§ 53-351. Returns required upon sale of business; purchaser subject to lien.

(a)

Any vendor who shall sell out a business or stock of goods or shall quit business shall be required to make out the return within ten (10) days after the date the vendor sold the business or stock of goods or quit business, and a successor in business shall be required to withhold sufficient of the purchase money to cover the amount of the taxes due and unpaid until such time as the former owner shall produce a receipt from the manager of finance showing that the taxes have been paid or a certificate that no taxes are due.

(b)

If the purchaser of a business or stock of goods shall fail to withhold the purchase money as above provided and the taxes shall be due and unpaid after the ten (10) day period allowed, the purchaser, as well as the vendor, shall be personally 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 vendor under lease, title-retaining contract or other contract arrangement, by purchase, foreclosure sale or otherwise, takes same subject to the lien for any delinquent taxes owed and shall be liable for the payment of all delinquent taxes of such prior owner, not, however, exceeding the value of property so taken or acquired.

(Code 1950, § 166E.13; Ord. No. 775-07, § 187, 12-26-07)