(Amended by Ord. No. 176,003, Eff. 7/7/04, Oper. 1/1/05.)
Each operator shall, on or before the 25th day of each calendar month, make a statement to the Director of Finance of the total rents charged and received, and the amount of tax collected for transient occupancies during the preceding calendar month. At the time the statement is filed, the full amount of the tax collected and tax not collected but required to be collected, shall be remitted to the Director of Finance. Except as provided in Sec. 21.7.8, an operator shall not be required to remit to the Director of Finance any amount of tax not collected and not required to be collected from a transient. All taxes collected and required to be collected by operators pursuant to this article shall be held in trust for the account of the City until payment thereof is made to the City. The full amount of tax due, whether collected or owed but not collected, under this Article shall be deemed a debt owed to the City by the operator and shall be discharged only upon payment to the City.
Statements and payments are due immediately upon cessation of business for any reason, at which time the operator shall furnish the Director of Finance with the name and address of the successor operator.
Notwithstanding the foregoing, the amount of taxes required to be remitted by an operator to the City pursuant to this Section 21.7.7 shall be automatically offset by the City in an amount equal to special taxes levied, collected and satisfied, by a City Community Tax District, formed pursuant to Division 6, Chapter 10 of the Los Angeles Administrative Code, against the operator's property during the preceding calendar month. The sum of the operator's monthly transient occupancy tax remittance to the City and the operator's monthly special tax payment shall equal the amount of transient occupancy tax required to be collected pursuant to this Article. The City may request from the applicable operator or the legislative body of the Community Taxing District documentation or other information necessary to substantiate the special tax payment. (Added by Ord. No. 177,052, Eff. 11/20/05.)
The automatic tax offset of the transient occupancy taxes due pursuant to this Article shall not exceed the rate of transient occupancy tax levied by the City, and no tax offset shall be provided for the amount of special taxes paid by an operator in excess of the rate of transient occupancy tax levied by the City. (Added by Ord. No. 177,052, Eff. 11/20/05.)