§ 53-45. Examination of returns; refunds, credits and deficiencies.

(a)

As soon as practicable after the return required by this article is filed, the manager shall examine it for correctness. If it then appears that the correct amount of tax to be remitted is greater or less than that shown in the return, the tax shall be recomputed.

(b)

If the amount paid exceeds that which is due, the excess shall be refunded with interest pursuant to section 53-43, or credited against any subsequent remittance from the same person; provided, however, that refunds and credits to vendors, or the vendor's assignees, are limited to those who at the time of the refund or credit have either credited to their customer's account or refunded to their customer the taxes paid by their customer in error, if any, and in such case vendors may receive from the manager a refund or credit for the amount, limited, however, for any transaction or series of transactions premised upon the error to an aggregate amount of not more than one hundred fifty thousand dollars ($150,000.00) that is claimed within three (3) years after the return is filed, provided, however, that if the three-year period for assessment of tax has been extended pursuant to section 53-68(d), then a claim for refund or credit may be made within such extended period; and provided, further, that if excess payments that the vendor did not collect from the customer are discovered by the manager, those payments, if made within the aforesaid three-year period or extended three-year period, shall be refunded or credited against subsequent remittances up to an aggregate amount of one hundred fifty thousand dollars ($150,000.00) only to the extent they exceed any deficiencies disclosed by an audit by the manager of the vendor's books and records of accounts.

(c)

If the amount paid is less than the amount due, the difference, together with interest thereon at the rate of one (1) percent each month, or fraction thereof, from the time the return was due until the date paid, together with applicable penalty, if any, shall be paid over by the vendor within thirty (30) days after written notice and demand for payment from the manager.

(d)

An application for refund for taxes paid in error by the purchaser and not refunded or credited by the vendor to the purchaser shall be made only in accordance with the procedures found in section 53-43 of this article.

(Ord. No. 666-81, § 1, 12-14-81; Ord. No. 679-87, § 10, 11-23-87; Ord. No. 922-91, § 12, 12-9-91; Ord. No. 660-93, § 3, 8-30-93; Ord. No. 474-10, § 2, 9-13-10)