(a) The tax authorized by this article shall be due and payable in monthly installments on or before the fifteenth day of the calendar month next succeeding the month in which the tax accrued; provided, that for credit in which the tax authorized by this article is not collected by the hotel operator at the time of such sales, such tax shall not, for purposes of this article, be regarded as having accrued until the date on which it is either received by the hotel operator or upon the expiration of the thirty days payment period set forth in Section 762.08, whichever shall first occur. The hotel operator shall, on or before the fifteenth of each month, prepare and deliver to the Finance Director a return for the preceding month, in the form prescribed by the Director. Such form shall include all information necessary for the computation, collection and subsequent distribution of the tax as the City may require. A remittance for the amount of the tax due shall accompany such return. Each return shall be signed by the hotel operator or his duly authorized agent.
(b) For the first month that the tax is delinquent, there shall be assessed by the Director a penalty in the amount of five percent (5%) of the tax due for the delinquent period. For each additional month that the tax remains delinquent, there shall be further assessed an additional one percent (1%) penalty per month until the tax is paid. No payment for a subsequent period shall be collected until all prior delinquent taxes have been paid in full with all penalties assessed thereto.
(Ord. 700. Passed 1-7-86.)