a. All net profit returns for the preceding taxable year shall be made by April 15 of each year or as extended by the City’s Chief Financial Officer, except returns made on the basis of a fiscal year, which shall be made by the fifteenth (15th) day of the fourth (4th) month following the close of the fiscal year. Blank forms for returns shall be supplied by the City.
b. Every person or business entity shall submit a copy of its federal income tax return and all supporting statements and schedules at the time of filing its net profit license fee return with the City. Whenever, in the opinion of the City, it is necessary to examine the federal income tax return of any person or business entity in order to audit the return, the City may compel the person or business entity to produce for inspection a copy of any statements and schedules in support thereof that have not been previously filed. The City may also require copies of reports of adjustments made by the federal government.
c. The City may require, for the purpose of ascertaining the correctness of any return or for the purposes of making an estimate of the taxable income of any person or business entity, the attendance of a representative of the business or of any other person having the requisite knowledge.
d. The full amount of the unpaid fee payable by any person or business entity, as appears from the face of the return, shall be paid to the City at the time prescribed for filing the net profit license fee return, determined without regard to any extension of time for filing the return. Where any portion of the net profit license fee so due shall have been deducted at the source, credit for such amount shall be deducted from the amount shown to be due and only the balance, if any, shall be due and payable at the time of the filing of the net profit license fee return as hereinabove provided.
(Ord. BG2020-23, 9/1/2020)