The tax imposed by this article shall be a lien upon the property of any person subject to the provisions hereof who sells out his business or stock of goods or quits business, and such person is required to make the return provided for under Section 745.04 within thirty days after the date he sold out his business or stock of goods or quit business, and his successor in business is required to withhold a sufficient amount of the purchase money to cover the amount of such taxes due and unpaid until such time as the former owner produces a receipt from the Director of Finance showing that the taxes have been paid. If the purchaser of a business or stock of goods fails to withhold purchase money as above provided, and the taxes are 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.
(Ord. 95-17. Passed 6-15-95.)