(a) Any person exercising any privilege taxable under this article who sells out his business or stock of goods, or ceases doing such business, shall file the return prescribed by Section 761.15 and remit the entire tax that may be chargeable against him because of all business done, within thirty days after selling out his business or stock of goods, or ceasing to do such business. The tax imposed by this article shall be a lien upon the property of such person.
(b) The successor in business of any such person shall withhold so much of the purchase money as will satisfy the taxes and penalty which may be due until the former owner produces a receipt from the Collector evidencing the payment of such taxes and penalty. If the purchaser of a business or stock of goods fails to withhold purchase money as herein provided, and the taxes and penalty shall remain unpaid after expiration of the thirty-day period allowed for payment thereof, he shall be personally liable for the payment of all such taxes and penalty, and the same shall be recoverable by the Collector by action or suit as provided by law.
(1968 Code §24-26)