Any person exercising any privilege taxable under this article who sells out his business or stock of goods, or ceases doing such business, shall file the return prescribed by Section 779.15 and remit the entire tax that may be chargeable against him because of all business done, within thirty days after selling out his business. The tax imposed by this article shall be a lien upon the property of such person.
The successor in business of any such person referred to in the preceding section shall withhold so much of the purchase money as will satisfy the taxes and penalty which may be due until the former owner produces a receipt from the Director of Finance evidencing the payment of such taxes and penalty. If the purchaser of a business or stock of goods fails to withhold purchase money as above provided, and the taxes and penalty remain unpaid after expiration of the thirty-day period allowed for payment thereof, he shall be personally liable for the payment of all taxes, penalties and interest which may be enforced by the Director of Finance by such action or suit as provided by Section 779.25.
(Ord. 0-604. Passed 8-28-90.)