The tax imposed by this article shall be a lien upon the property of any person subject to the provisions hereof who shall sell out his business or stock of goods or shall quit business, and such person shall be required to make the return provided for under Section 737.16 within thirty days after the date he sold out his business or stock of goods or quit business, and his successor in business shall be required to withhold sufficient purchase money to cover the amount of such taxes due and unpaid until such time as the former owner shall produce a receipt from the Director of Finance showing that the taxes have been paid. If the purchaser of a business or stock of goods shall fail to withhold purchase money as above provided, and the taxes shall be due and unpaid after the thirty-day period allowed, he shall be personally liable for the payment of the taxes accrued and unpaid on account of the operation of the business by the former owner.
(1976 Code Sec. 10-112)