Any person exercising any privilege taxable under this article who shall sell out his/her business or stock of goods, or shall cease doing such business, shall file the return prescribed by Section 711.07 and remit the entire tax that be chargeable against his/her because of all business done, within thirty (30) days after selling out his/her business or stock of goods, or ceasing to do such 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 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 City Recorder evidencing the payment of such taxes and penalty. If the purchaser 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 for the thirty (30) day period allowed for payment thereof, he/she shall be personally liable for the payment of all such taxes and penalty, and the same shall be recoverable by the City Recorder by action or suit as provided by Section 711.20. (Passed 9-14-09.)