(A) All business entity returns for the preceding taxable year shall be made by April 15 of each year, except returns made on the basis of a fiscal year, which shall be made by the fifteenth day of the fourth month following the close of the fiscal year. Blank forms for returns shall be supplied by the city.
(B) Every business entity, including those with gross receipts less than $25,000 shall submit a copy of its federal income tax return and all supporting statements and schedules at the time of filing its occupational license tax return with the city. Whenever, in the opinion of the city, it is necessary to examine the federal income tax return of any business entity in order to audit the return, the city may compel the business entity to produce for inspection a copy of any statements and schedules in support thereof that have not been previously filed. The city may also require copies of reports of adjustments made by the federal government.
(C) Every business entity subject to an occupational license tax governed by the provisions of this subchapter, including those with gross receipts less than $25,000, shall keep records, render oath statements, make returns and comply with rules as the city from time to time may prescribe. Whenever the city deems it necessary, the city may require a business entity, by notice served to the business entity, to make a return, render statements under oath or keep records, as the city deems sufficient to determine the tax liability of the business entity.
(D) The city may require, for the purpose of ascertaining the correctness of any return or for the purposes of making an estimate of the taxable income of any business entity, the attendance of a representative of the business entity or of any other person having knowledge in the premises.
(E) The full amount of the unpaid tax payable by any business entity, as appears from the face of the return, shall be paid to the city at the time prescribed for filing the occupational license tax return, determined without regard to any extension of time for filing the return.
(F) Any parent corporation operating a subsidiary within the city must make a one-time initial election to submit their occupational license return based on their consolidated federal tax return or the activities of the subsidiary only. Once the initial election is made, the same method of reporting must be used each year.
(Ord. 16-2007, passed 6-19-2007)