A. On or before January 25, 2008, every retail bottled water dealer shall file with the department, on a form prescribed by the comptroller, a tax return reporting the inventory of bottled water in the retail dealer's possession or control on the effective date of this section. The retail dealer shall include with the tax return any tax due on the inventory of bottled water in its control and possession for which all applicable tax has not been collected. The retail dealer shall in turn collect the tax from its retail purchasers.
B. Every retail bottled water dealer who possesses bottled water purchased prior to the effective date of a Chicago bottled water tax increase shall file with the department, on a form prescribed by the comptroller, a tax return attesting to the quantities of bottled water in its possession as of the last day prior to the tax increase and pay to the department the amount of tax due as a result of each rate increase. The retail dealer shall in turn collect the tax from its retail purchasers. Each such tax return and payment due under this subsection shall be filed and received by the department by the 24th day following the effective date of each tax increase.
C. Every retail bottled water dealer required to file a tax return under subsection A or B of this section who does not file such tax return by its due date, or alternatively does not provide all required information on such tax return, or fails to pay all required tax due computed thereon, shall be subject to a penalty of $100.00 per business location required to be reported on the tax return, in addition to all other penalties and interest that may be due under the provisions of the Uniform Revenue Procedures Ordinance, Chapter 3-4 of this Code.
D. If the comptroller determines that a party to whom the penalty in subsection C of this section has accrued had reasonable cause for paying late, underpaying the applicable tax, or filing a late or incomplete tax return, then the applicable penalty shall be waived.
E. The comptroller, or his or her designee, may at any time during the statute of limitations outlined in Section 3-4-120 of this Code, examine the books and records of any party required to file a tax return under this section and may issue a tax determination and assessment to the party as per Section 3-4-160 of this Code if a determination is made that any amount of tax, penalty or interest is due.
F. Every party required to file a tax return under subsection A or B of this section who files a complete tax return by its due date and makes timely payment of the amount computed thereon shall be eligible to retain a commission in the amount of one percent of the tax computed due thereon.
(Added Coun. J. 11-13-07, p. 15814, § 2; Amend Coun. J. 11-16-11, p. 13798, Art. I, § 3)