§ 5-121. Definitions.

The following words, terms, and phrases, when used herein, shall have the meanings ascribed to them in this section, except where the context clearly indicates a different meaning:

Business means all activities which may be licensed under Section 11-51-90, Code of Alabama, 1975.

City clerk-treasurer means the city clerk-treasurer of the City of Tuscumbia, Alabama.

Gross proceeds means the value proceeding or accruing from the leasing or rental of tangible personal property, without any deduction on account of the cost of the personal property so leased or rented, the cost of materials used, labor or service cost, interest paid or any other expenses whatsoever, and without any deduction on account of loss, and shall also include on the part of any person claiming exemption under subsection 5-123(4) an amount equal to the amount under such exemption and thereafter diverted to the use of such person.

Leasing or rental means a transaction whereunder the person who owns or controls the possession of tangible personal property permits another person to have the possession or use thereof for a consideration and for the duration of a definite or indefinite period of time without transfer of the title to such property. The detention by the user thereof of freight cars, oxygen and acetylene tanks and similar property, in respect of which detention a demurrage or per diem charge is made against the user of such property, shall not be deemed to constitute a transaction whereunder property is leased or rented to another within the meaning of this article.

Person or company means any individual, firm, partnership, association, receiver, trustee, entity, or any other group or combination acting as a unit, and the plural as well as the singular member.

Tangible personal property means personal property which may be seen, weighed, measured, felt, or touched, or is in any other manner perceptible to the senses. The term "tangible personal property" shall not include stocks, bonds, notes, insurance, or other contracts, or securities.

(Ord. No. A-141, § 1, 1-12-98)