§ 163-2. Levy of tax.

Every person engaging in any of the following occupations or businesses in the Township of Upper Southampton shall pay an annual mercantile license tax for the second half of the calendar year 1970, commencing the first day of July 1970, and annually thereafter commencing on the first day of January 1971, at the rates below set:

A. 

Wholesale vendors or dealers in goods, wares, merchandise, at the rate of one mill on each dollar of the volume of the annual whole volume of business transacted during the license year.

B. 

Retail dealers in goods, wares and merchandise and proprietors of restaurants or other places where food, drink or refreshments are sold, at the rate of 11/2 mills on each dollar of the whole volume of business transacted during the license year.

C. 

Where the business or occupation involves any combination of the wholesale and retail function, then as to such there shall be paid with respect to the whole volume of wholesale business transacted during the license year the rate specified in Subsection A above; and with respect to retail business transacted during the license year, the rate specified in Subsection B above.

D. 

The tax imposed by this section shall not apply to the dollar volume of annual business covering the resale of goods, wares or merchandise taken by a dealer as a trade-in or as part payment for other goods, wares and merchandise, except to the extent that the resale price exceeds the trade-in allowance.