In the event that the town collects over $50,000 in occupancy tax proceeds, the town shall select for annual random audits 1 or more vendors to verify the amount of gross rent subject to the occupancy tax and to ensure that the full amount of occupancy tax is collected; in the event that the town collects less than $50,000 in receipts per annum of the occupancy tax proceeds, the town shall conduct random audits to verify full payment of occupancy tax receipts; the town may use its own staff or may use outside auditors to perform the audits of vendors; the cost of performing the audits shall be considered a cost of administering the tax; the town’s governing body shall determine each year the number of vendors within the town to audit.
(Ord. 622, passed 1-15-2002)