If a vendor liable for the tax sells the business or quits the business, the taxes, interest and penalties imposed hereby on taxable rents made prior to that time shall become due and payable immediately, and such person shall make a final return within fifteen days after the date of selling or quitting business. The successor owner shall withhold a sufficient amount of the purchase money to cover the amount of such taxes, interest and penalties due and unpaid until the former owner produces a receipt from the Fiscal Officer showing that the taxes, interest and penalties have been paid, or a certificate indicating that no taxes are due. If the successor owner of the business fails to withhold purchase money, the successor owner shall be personally liable for the payment of the taxes, interest and penalties accrued and unpaid during the operation of the business by the former owner.
(Ord. 06-11. Passed 3-28-11.)