182.11 SECURITY DEPOSIT.

   If the owner or vendor shall fail to file the monthly tax documents as required or fail to pay the tax monthly, a security deposit equal to the minimum of $2,500.00 per month or an amount equal (for each month where either a return is not filed or the tax not paid) equal to the average monthly tax paid by the institution in the prior 12 months whichever is greater, shall be paid by the owner or vendor. Owners, shareholders, principals, partners, and all executives with fiduciary responsibilities shall be jointly and severally liable for the tax owned and the filing of returns under this chapter. Interest at the rate of 18% per annum shall be assessed on all past due obligations. The return and tax shall be paid by the 15th of the month following the month in which the tax is collected.

(Ord. 47-12. Passed 9-17-12.)