§ 53-38. Return required upon sale of business; lien on purchaser.

(a)

Any retailer, whether or not licensed hereunder, that sells out his business or stock of goods or quits business within the city shall be required to return the taxes levied by this article within ten (10) days after the date the retailer sells his business or stock of goods or quits business and at said time pay over to the manager all such taxes collected by him, and in addition thereto, the retailer shall pay over to the manager all taxes levied hereunder upon the sale itself of said business, stock of goods, fixtures and equipment to the purchaser; and the purchaser thereof, or the successor in business, shall be required to withhold sufficient of the purchase money from said retailer and seller to cover and pay the amount of said taxes due and unpaid by the seller, including the taxes due upon said sale to said purchaser, until such time as the former owner, said retailer and seller shall produce a receipt from the manager showing that all of said taxes have been paid, or a certificate that no taxes are due.

(b)

If the purchaser of a business or stock of goods fails to withhold the purchase money as provided in this section and the taxes are due and unpaid after the ten-day period allowed, the purchaser, as well as the retailer, shall be liable for the payment of the taxes unpaid by the former owner. Likewise, anyone who takes any stock of goods or business fixtures of or used by any retailer under lease, title retaining contract or other contract arrangement, by purchase, foreclosure sale, or otherwise, takes same subject to the lien for any delinquent sales taxes owed by such retailer and shall be liable for the payment of all delinquent sales taxes of such prior owner, not, however, exceeding the value of property so taken or acquired.

(Ord. No. 666-81, § 1, 12-14-81; Ord. No. 638-84, § 15, 12-3-84)