If an operator who is liable for any unreported or unremitted tax, interest, or penalties under this section sells, conveys, or otherwise disposes of his business in any manner, his successor shall withhold a sufficient portion of the sales price equal to the amount of such unreported or unremitted tax, interest, or penalties until the selling operator producers either (1) a receipt from the City Finance Department stating that no tax, interest or penalty is due. If the seller does not present either a receipt or tax clearance certificate within 30 days after such successor commences to conduct business, the successor shall deposit the withheld amount with the City Finance Department pending settlement of the account of the seller. If the successor to the business fails to withhold and/or deposit a potion of the purchase price as required by this section, the successor shall be personally liable to the city for the payment of the amount required to be withheld and/or deposited. Within 30 days after receiving written request from the operator or his successor for a receipt or tax clearance certificate stating that no tax or penalty is due, the City Finance Department shall either issue a record or certificate or mail notice to the requesting party at its address as it appears on the records of the City Finance Department of the estimated amount of tax, interest and penalty that must be paid as a condition of issuing the certificate. This section is intended to impose liability upon a successor for any taxes, interest, and penalties which may be due at the time of transfer.
(Ord. 1144, passed 9-1-93)