(a) The taxes levied hereunder shall be due and payable in quarterly installments on or before the expiration of one month from the end of the quarter in which they accrue. The taxpayer shall, within one month from the expiration of each quarter, make out an estimate of the tax for which he is liable for such quarter, sign the same, and mail the same together with a remittance, in the form required by Section 763.25, of the amount of the tax to the office of the Recorder at Town Hall. In estimating the amount of the tax due for each quarter, the taxpayer may deduct one-fourth of the total exemption for the year.
(b) Any other provision of this section notwithstanding, the Recorder, if he deems it necessary to insure payment of the tax, may require the return and payment under this section for periods of shorter duration than quarter-year periods. Furthermore, the Recorder, if he deems it necessary to insure payment of the tax, may require a deposit to be paid by the taxpayer prior to when the taxes accrue and are otherwise payable pursuant to this article. The amount of the deposit shall be determined and/or based upon the taxpayer's projected gross income or gross proceeds of sale for the applicable tax period. This deposit shall be paid to the office of the Recorder, at a date and time, and in a manner determined by the Recorder.
(Passed 7-1-04.)