(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.
(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) In the case of an assessment of additional tax relating directly to adjustments resulting from a final determination of federal audit, the additional tax may be assessed before the expiration of the times provided in this division, or six months from the date the city receives the final determination of the federal audit from the business entity, whichever is later. The times provided in this division may be extended by agreement between the business entity and the city. For the purposes of this division, a return filed before the last day prescribed by law for filing the return shall also be considered as extending the last day prescribed by law for filing the return.
(B) Every business entity shall submit a copy of the final determination of the federal audit within 30 days of the conclusion of the federal audit.
(C) The city may initiate a civil action suit for the collection of any additional tax within the times prescribed in division (A) of this section.
(Ord. 002-08, passed 3-3-08)