(A) Tax computed per payment. In the case of a sale upon credit or a contract for sale where the price is paid in installments, and title does not pass until a future date, or a sale secured by a chattel mortgage or a conditional sale, there shall be paid upon each payment that portion of the total tax which the amount paid bears in relation to the total purchase price.
(B) Sale of accounts receivable; exception to tax. If the retailer transfers, sells, assigns or otherwise disposes of an account receivable, then the retailer shall be deemed to have received the full balance of the consideration for the original sale and shall be liable for the remittance of the sales tax on the balance of the total sale price not previously reported, except that such transfer, sale, assignment or other disposition of an account receivable by a retailer to a “closely held subsidiary”, as defined in § 4-3-1-2 of this chapter, definition of “purchase or sale”, shall not be deemed to require the retailer to pay the sales tax on the credit sale represented by the account transferred prior to the time that the customer makes payment on said account.
(Ord. 45(1991) § 1)