(A) As soon as practicable after each return is received, the city may examine and audit the return. If the amount of tax computed by the city is greater than the amount returned by the business entity, the additional tax shall be assessed and a notice of assessment mailed to the business entity by the city within five years from the date the return was filed, except as otherwise provided in this division (A).
(1) In the case of a failure to file a return or of a fraudulent return the additional tax may be assessed at any time.
(2) (a) In the case of a return where a business entity understates compensation, or omits an amount properly includable in compensation, or both, which understatement or omission, or both, is in excess of 25% of the amount of compensation stated on the return, the additional tax may be assessed at any time within six years after the return was filed.
(b) The times provided in this division (A) may be extended by agreement between the business entity and the city. For the purposes of this division (A)(2), a return filed before the last day prescribed by law for filing the return shall be considered as filed on the last day. Any extension granted for filing the return shall also be considered as extending the last day prescribed by law for filing the return.
(B) The city may initiate a civil action for the collection of any unpaid tax within six years after the tax becomes payable to the city.
(Ord. 8-2013, passed 8-5-2013; Ord. 14-2022, passed 12-5-2022)