§ 5.04.120. Second year renewal tax.

If the business continues operation after December 31st of the year in which it began, the taxpayer shall file a renewal declaration and pay by March 1st the full amount of the renewal tax. The second year renewal tax shall be based upon an estimate of or the actual tax base for a twelve (12) month period or shall be based upon any factual information which is in the Director of Finance's possession or which may come into the Director's possession, and shall be determined by the rate applicable to the business classification. If the taxpayer elects not to estimate or if the estimate submitted is determined to be unreasonable, the average tax base as set forth in Section 5.04.110 shall apply.

If the business terminates on or before the end of the calendar year of the second year, the taxpayer shall file an amended declaration within thirty (30) days of cessation following the procedures established by the Director of Finance and pay any second 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(c))