(a) The taxes levied hereunder shall be due and payable in quarterly installments on or before the expiration of one month from the end of the quarter in which they accrue. The taxpayer shall, within one month from the expiration of each quarter, make a return reporting the tax for which he/she is liable for such quarter; sign it and mail it, together with any remittance due, in the form required by this article, of the amount of the tax to the office of the Director of Finance. In reporting and remitting the amount of the tax due for each quarter, the taxpayer may deduct one-fourth of the total exemption allowed for the year. When the total tax for which any person is liable under this article does not exceed the sum of one hundred ($100.00) dollars in any year, the taxpayer may pay the tax quarterly as aforesaid or, with the consent in writing of the Director of Finance, at the end of the month next following the close of the tax year.
(b) The Director of Finance, if he deems it necessary, based upon past experience with a taxpayer, based on the past practices of a taxpayer, based on the financial condition of the taxpayer, or based on the size of the contract, in order to insure payment of the taxes levied hereunder, may require return and payment under this section for other than quarterly periods. Furthermore, if the Director of Finance deems it necessary to insure payment of the Business and Occupation tax, he may require a deposit to be paid by the taxpayer prior to when the taxes accrue and are otherwise payable. The amount of the deposit shall be determined and/or based upon the taxpayer's projected gross income or gross proceeds of sale for the applicable tax period. This deposit shall be paid to the Office of the Director of Finance, at a date and time, and in a manner determined by the Director of Finance.
(c) Every contractor whose principal business location is outside of the City, shall register with the Director of Finance prior to engaging in the performance of a contract in this City, and the Director of Finance, if he deems it necessary, based on the past experience with a taxpayer, based on the past practices of a taxpayer, based on the financial condition of the taxpayer, or based on the size of the contract, in order to insure payment of the taxes levied hereunder, may also require the following:
(1) At the time of registration, application for building permit, or otherwise as directed by the Director of Finance, require each contractor to deposit with the Director of Finance six percent of the amount the contractor is to receive for the performance of the contract, which sum shall be held within a Contractor's Use Tax Fund pending the completion of the contract.
(2) In lieu of the six percent deposit, each contractor may request the approval of the Director of Finance to provide, in the alternative, a corporate surety bond to be approved by the Director of Finance as to form, sufficiency, value, amount, stability, and other features necessary to provide a guarantee of payment of the tax due the City.
(Ord. 1-7-03.)