(A) The tax shall be paid to the Tax Collector at the time and in the form and manner provided for the payment of sales and use taxes pursuant to and in accordance with G.S. § 105-164.16 as the same applies to a taxpayer who is consistently liable for more than $100 but less than $10,000 a month. As applicable to sales and use taxes, a taxpayer must file a return and pay the taxes due on a monthly basis. The tax shall be due and payable when a return is required to be filed.
(B) Upon the resumption of distributions by the Secretary of Revenue as required under the State Franchise Tax Act, being G.S. Chapter 105, Article 3, a refund may be due to a taxpayer as specified in this section. A refund in the amount indicated herein below shall be due to a taxpayer within 30 days after presentation to the town by the taxpayer and allocable to the calendar quarter for which the most recent distribution was made. The amount of a refund shall equal the portion of the percentage distribution amount designated by the Secretary of Revenue.
(Ord. passed 6-3-2002)