5.05.040   Payment—Timing.
   (a)   All taxes imposed by this chapter on medical marijuana cooperative shall be paid on quarterly basis, starting with the first day of the quarterly period in which the license is issued, namely, October 1st , January 1st , April 1st and July 1st. Payment of taxes imposed by this chapter shall be in the correct amount of taxes due and owing in accordance with Section 5.05.030 of this chapter. Such sums correctly reflecting taxes shall be accepted by the city, subject, however, to the city's right to conduct an audit pursuant to Section 5.05.070 of this chapter.
   (b)   In the case of a medical marijuana cooperative which has discontinued, dissolved or otherwise terminated its operations or business before the expiration of a tax period, the due date for any taxes accrued and owing to the city under the provisions of this chapter shall be the date that the city is notified by the medical marijuana cooperative of the discontinuance, dissolution or termination of its operations and surrender of its business license. A medical marijuana cooperative that has discontinued, dissolved or otherwise terminated its operation shall pay the city the taxes imposed by this chapter, however, the total amount due may be prorated.
   (c)   For failure to pay an annual license tax when due, the business license officer shall add a penalty of twenty-five percent of the tax amount past due on the thirtieth day of the month following the due date thereof, and an additional penalty of twenty-five percent of the tax base amount shall be added on the thirtieth day of each successive month thereafter up to a maximum penalty of one hundred percent, plus any administrative penalty regarding delinquent payments which has been imposed by a resolution adopted by the city council, as authorized by Section 5.04.150 of this Code.
(Ord. 904 § 2 (part), 2010)