(A) Any person exercising any privilege taxable under this subchapter who shall sell out his or her business or stock of goods, or shall cease doing business, shall file a return prescribed by § 34.34 of this chapter and remit the entire tax that may be chargeable against him or her because of all business done within 30 days after selling out his or her business or stock of goods or ceasing to do such business.
(B) The successor in business of any such person shall withhold so much of the purchase money as will satisfy the taxes and penalty which may be due until the former owner shall produce a receipt from the Town Recorder evidencing the payment of such taxes and penalty. If the purchase of a business or stock of goods shall fail to withhold purchase money as above provided and the taxes and penalty shall remain unpaid after expiration of the 30-day period allowed for payment thereof, he or she shall be personally liable for the payment of all such taxes and penalty, and the same shall be recoverable by the Town Recorder as provided by § 34.42 of this chapter.
(Prior Code, § 5-429) (Ord. passed 1-19-2021)