Ordinance 2006-1504 - Laserfiche WebLink

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A. SELLER'S RESPONSIBILITIES: Any person engaged III business in the city who sells such business shall file a final return. The reporting period for such return shall end on the date of the transfer of ownership of the business. However, the seller shall remain and be held liable for any unpaid taxes due. B. PURCHASER'S RESPONSIBILITIES: Any person who purchases an existing business shall be responsible for determining the total tax liability of that business, including any delinquencies that may exist, and shall withhold from the initial purchase payment an amount sufficient to cover any such tax liability, unless the former owner produces a receipt from the city showing that all tax due has been paid or a certificate from the city that there is no tax due. Any amount so withheld shall be paid to the city within ten (10) days of the date of the sale of the business. Any purchaser who fails to withhold such tax due or fails to pay to the city the amount so withheld within the ten (10) day period allowed shall be held jointly and severally liable with seller for any unpaid tax due. C. CESSATION OF BUSINESS: Every person engaged in business in the city who quits doing business in the city shall file a final return. The reporting period for such return shall ,end on the last day of business in the city. D. SALE OR TRANSFER OF BUSINESS: In all cases where any of the assets of any new business are within the city, payment of sales or use tax based on the bill of sale is required on transfer of title or possession, or both, of the tangible personal property taxable in this Chapter, whether involving a retail establishment or any other type of business enterprise. PART 3 - USE TAX Sec. 3.20.300. Levy of tax; rate. There is hereby levied, and there shall be collected and paid, a tax upon the privilege of using, storing, distributing, or otherwise consuming in the City any article of tangible personal property or services purchased, leased or rented from sources inside or outside the city, on which a sales tax has not been paid and as specified in section 3.20.310. The amount of the tax shall be three percent (3%) of the purchase price thereof, except that, for a ten-year period beginning on January 1, 2004, the amount of the tax shall be three and three-eighths percent (3%%) of the purchase price thereof, in accordance with Ordinance 1432 (Series 2003) and as approved by the registered electors of the city on November 5,2002. Sec. 3.20.310. Property and services taxed. 29