(A) Every person beginning a business, profession, trade or occupation which is subject to a license tax, based in whole or in part on gross receipts or gross expenditures, shall estimate the amount of gross receipts he or she will receive or the gross expenditures he or she will incur between the date of beginning business and the end of the then-current license year. The license for the then-current license year shall be computed on the estimate.
(B) Whenever a license tax is computed on the estimated gross receipts or gross expenditures, any erroneous estimate shall be subject to corrections and the Clerk/Treasurer shall assess the person after the end of that license year with any additional license tax determined to be due. Also, he or she shall, at the same time, correct the estimate for the then-current license year until a full year of operation shall have been completed. In case of an overestimate, the taxpayer shall be entitled to a credit upon his or her license tax payable the following year or a refund.
(1997 Code, § 18-47) (Ord. passed 5-31-1983)