§ 10-382. Withholding tax on sale of business.

(a)

If any rental motor vehicle concern liable for any amount under this article transfers or sells its business or quits the business, its successors or assigns shall withhold sufficient amounts from the purchase price to cover the amount required to be paid pursuant to this article until the former owner or operator of the rental motor vehicle concern produces a receipt from the city clerk or his designee showing that the indebtedness has been paid or a certificate stating that no amount is due.

(b)

If the purchaser of a business or rental motor vehicle concern fails to withhold from the purchase price, as required herein, such purchaser shall be personally liable for the payment of the amount of the outstanding tax required to be withheld by him to the extent of such purchase price.

(Ord. No. 21-96, § 1, 5-23-96)