(a) Every person who claims the credit herein provided shall maintain sufficient records to establish the following facts for each item of qualified property:
(1) Its identity;
(2) Its actual or reasonably determined costs;
(3) The month and year the operation of the business began, or the date expansion of the business was completed;
(4) The date on which the business elected to begin taking the allowable tax credit;
(5) The amount of tax credit taken;
(6) The employment levels including the gross payroll for the taxable quarter in which credit is being taken.
(b) Any taxpayer who does not maintain such records may be treated as having forfeited the remaining tax credit herein provided for unless special arrangements have been made with the Director of Finance.
(Ord. 96-18. Passed 7-18-96.)