42-5008. Levy of tax; purposes;
distribution
A. There is levied and there shall be collected by the department, for the purpose
of raising public money, privilege taxes measured by the amount or volume of business
transacted by persons on account of their business activities, and in the amounts to be
determined by the application of rates against values, gross proceeds of sales or gross
income, as the case may be, as prescribed by this article and article 2 of this chapter.
B. If any monies remain after the payments are made for state purposes, as provided
for by subsection A, the remainder of the monies shall be paid into the state school fund
for educational purposes.
C. The tax levied by and collected pursuant to this article and article 2 of this
chapter is designated the "transaction privilege tax".
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