§ 5.04.110. First year estimated tax.

Upon making application for the first certificate to be issued for a newly established business, an applicant may furnish to the Director of Finance, for guidance in ascertaining the amount of tax to be paid, a written statement, upon a form provided by the Director of Finance, setting forth such information as may be required to properly determine the amount of the tax liability at the time of the statement.

The applicant may estimate gross receipts, gross payroll, average number of employees, value added, manufacturing expense, number of permits or number of vehicles (hereinafter referred to as "tax base"), for the period covered by the certificate to be issued. Such estimate, if accepted by the Director of Finance as a reasonable one, shall be used in determining the amount of tax to be paid by the applicant; if such estimate is found to be unreasonable or the applicant elects not to estimate the tax base, the Director of Finance shall use the average tax base for the industry. Said industry code average is to be prorated on a one-twelfth basis for each month remaining in the calendar year in which the newly established business commences. The estimated tax is determined by multiplying the tax rate times the tax base applicable to the business classification.

The applicant may pay the full estimated tax at the time of registration; or the taxpayer may elect to file and pay the first year tax on or before March 1st of the second year.

If the business terminates on or before the end of the calendar year in which the business began, the taxpayer shall file an amended declaration within thirty (30) days of cessation following the procedures established by the Director of Finance and pay a first year tax based upon the tax base and rate applicable to the business classification for the period that the business was in operation.

(Ord. 12838 § 3 (part), 2007; prior code § 5-1.10(b))