Skip to main content
Loading…
This section is included in your selections.

(1) Audit of Records. Any person engaged in a business taxed under this title shall maintain and preserve, for a period of at least two years, suitable records as may be necessary to determine the amount of the tax due under this title and shall, upon request of the director, provide the necessary records to substantiate the tax paid or due for such business. If upon audit of such records, the director determines the tax imposed by this title has not been paid in full, the director shall notify the licensee of the balance due, including any accrued penalties. Such amount shall be paid within 30 days after notice is issued by the director and interest pursuant to CMC 5.04.230 shall thereafter accrue.

(2) Overpayment. If an audit reveals an overpayment, the director shall notify the licensee of the amount overpaid. Unless the licensee requests a refund of the overpayment within 30 days after notice is issued by the director, the overpayment shall be applied as a credit against the next annual tax due.

(3) Underpayment. If an audit reveals an underpayment, the director shall take action to collect the underpayment. However, the director may, in his or her discretion, waive or compromise any claims as to an amount due to the city under this title if that amount is not more than $25.00 or such higher amount as is hereafter authorized by resolution of the city council.

(4) Corrected Application. Rather than request information and conduct an audit, the director may request an applicant file a corrected application for business license. If such an application is filed and the director is satisfied with its accuracy, the existence of any underpayment or overpayment under this section shall be determined with reference to that corrected application. If a licensee fails to file a corrected application or if the director is not satisfied with a corrected application, the director may conduct an audit under subsection (1) of this section. (Ord. 505 § 1. 2002 Code § 6-5.4).