(a) “Business” means and includes all activities conducted with the object of gain, benefit or advantage to the taxpayer or to another person or class, directly or indirectly. It does not include not-for-profit activities.

(b) “Conducting business” means commencing, conducting, or continuing in business and also the exercise of corporate or franchise powers as well as liquidating a business when the liquidators thereof hold themselves out to the public as conducting such business.

(c) “Payroll” means the total value of all compensation paid to employees for services rendered the company in the performance of its regular business. Compensation paid to contractors or persons performing services or supplying goods on contract and upon whom any tax imposed by this section is separately imposed is not to be regarded as payroll compensation.

(d) “Personal service business” means the activity of providing labor or information for a fee directly to buyers but operating without the overhead expenses of an office or other place of business separate from that of those purchasing the service.

(e) “Tax year” or “taxable year” means either the calendar year, or the taxpayer’s fiscal year when permission is obtained from the Finance Department to use a fiscal year in lieu of the calendar year.