Title 08 Taxation and Revenue
Chapter 08.10 Utilities, Franchise Taxes
Section 08.10.070 Sale or Transfer of Business
- Upon the sale or transfer during any year of a business or a portion of a business upon which a tax is required hereunder, the purchaser or transferee must, if the tax has not been paid in full for said tax year, be responsible for the payment of the tax for that portion of the tax year during which said transferee or purchaser carries on such business.
- Whenever any taxpayer quits business, sells out or otherwise disposes of the taxpayer’s business or otherwise terminates the same, any tax payable hereunder shall be immediately due and payable and the taxpayer must, within thirty days thereafter, make a return and pay the tax due.
Date Passed: Monday, May 7, 2007
Effective Date: Wednesday, June 20, 2007
Recodification ORD C34025 Section 1