Section 64
SEC. 64. All license taxes shall become due on the first day of January in each year or on commencing any trade or business on which a tax is imposed. In the former case the tax shall be reckoned for one year, in the latter case if shall be reckoned proportionately-from the first day of the quarter in which the liability for the license tax commenced to the first day of January following: Provided, That yearly license taxes may be paid in quarterly installments on the first day of January. April. July, and October: And provided further. That no license payment for a fraction of a year shall be for less than the sum required for three months.