(A) Any person engaged in a business taxed under this chapter shall maintain and preserve, for a period of at least two years, suitable records as may be necessary to determine the amount of the tax due under this chapter and shall, upon request of the Tax Administrator, provide the necessary records to substantiate the tax paid or due for such business. If upon audit of such records, the Tax Administrator determines the tax imposed by this chapter has not been paid in full, the Tax Administrator shall notify the taxpayer of the balance due, including any accrued penalties. Such amount shall be paid within 90 days after notice is issued by the Tax Administrator.
(B) If an audit reveals an overpayment, the Tax Administrator shall notify the taxpayer of the amount overpaid. Unless the taxpayer requests a refund of the overpayment within 30 days after notice is issued by the Tax Administrator, the overpayment shall be applied as a credit against the next tax due.
(C) If an audit reveals an underpayment of $25 or less, the Tax Administrator shall take no action to collect the underpayment.
(D) Rather than request information and conduct an audit, the Tax Administrator may request an applicant to file a corrected application for tax certificate. If such an application is filed and the Tax Administrator is satisfied with its accuracy, the existence of any underpayment or overpayment under this section shall be determined with reference to that corrected application. If a taxpayer fails to file a corrected application or if the Tax Administrator is not satisfied with a corrected application, the Tax Administrator may conduct an audit under division (A) of this section.
(Ord. 2092-C-S, passed 8-12-14)