§ 62. Additional tax on transportation corporations and associations.
Every corporation, joint-stock company or association formed for or
principally engaged in the conduct of aviation, steamboat, ferry (except
a ferry company operating between any of the boroughs of the city under
a lease granted by the city), or navigation business or formed for or
principally engaged in the conduct of two or more of such businesses,
except a corporation, joint-stock company or association subject to
taxation under a local law of the city, imposed on utilities and vendors
of utility services, shall pay for the privilege of carrying on its
business in the city, a tax which shall be equal to five-tenths of one
per centum upon its gross earnings from all sources within the city,
excluding earnings derived from business of a character other than
wholly intra-city. Provided, however, gross earnings from transportation
business both originating and terminating within the city and traversing
both the city and any other city, any state or states or any country
shall be subject to the tax imposed by this section and such earnings
shall be allocated to the city in the same ratio that the mileage within
the city bears to the total mileage of such business.