(A) Application fee: Each application for a license to be granted under the authority of this chapter shall be accompanied by a non-refundable filing fee in the amount specified below, by a certified or cashier's check made payable to the town. Nonrefundable filing fees for initial license, transfer or change of ownership, license and modification (see the Town of Florence Schedule of Fees).
(B) A licensee, fee: The licensee shall pay the town no less than 5% of the licensee's gross revenues from all sources attributable to operations of the licensee within its license area during the period of its license. A licensee must pay the license fee due to the town for the preceding quarter within 30 days of the end of that quarter.
(C) Processing fee: As stated in § 118.25(J), to recover the town's expense in reviewing license applications, every license application is subject to a license processing fee in an amount not to exceed the town's reasonable costs, less the amount of the application filing fee. The processing fee is the cost associated with reviewing and processing the application and license request. Within 30 days of the date the grant of the license is approved by the Council, the town must notify the approved applicant of the amount of the license acceptance fee and its methods of calculation.
(D) Any payment of license fees to adjust for a shortfall in the quarterly payments for the preceding year must be made no later than the filing date for the annual financial statements as specified in division (D) of this section. An adjustment for any overpayment will be credited in one or more subsequent quarterly payments as determined appropriate by the Finance Director.
(E) Unless a license agreement provides otherwise, a licensee must file with the town within 30 days of the end of each calendar quarter, a comprehensive report including a current financial statement showing the gross revenues received by the licensee during the preceding quarter and the number of subscribers.
(F) A licensee must file within 45 days of the end of its fiscal year, the licensee's or the licensee parent's annual financial statements for the preceding year audited by a certified public accountant. The licensee will bear the cost of the preparation of all financial statements.
(G) The town may inspect and audit any books and records relevant to the calculation of gross revenues, and recompute any amounts determined to be payable under the license. The reasonable cost of the audit, up to the amount determined to be due to the town, will be borne by the licensee if the annual payment to the town for the preceding year is increased by more than 5% as a result of the audit.
(H) In the event that a license payment is not received by the town on or before the due date, the payment shall be deemed delinquent, and subject to a late fee. The licensee will pay a late charge of 5% of the amount of the payment, and interest will be charged from the due date at the annual interest rate then charged for unpaid federal income taxes. Interest and late charges will not be imposed for any payment necessary as a result of the yearly adjustment provided for in division (B) of this section, if the payment to correct for a shortfall does not exceed 10% of the total payments made during the year. In the event such payment exceeds 10% of the total payments made during the year, the licensee will be liable for interest and late charges for the entire amount due. Licensee shall be responsible for payment or reimbursement of audit expenses.
(I) When a license terminates for any reason, the licensee must file with the town within 90 days of the date the license operations stop an audited financial statement showing the gross revenues received by the licensee since the end of the previous fiscal year. Adjustments must be made at that time for license fees due to the date that the licensee's operations ceased.
(Prior Code, Ch. 18, Art. V, § 18-311) (Ord. 343-04, passed 6-21-2004; Ord. 366-05, passed 3-7-2005)