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Sale, assignment, or transfer of business. A medicinal cannabis retail
<br />assignee, transferee, or other successor in interest (hereinafter collectively
<br />referred to as successor) unless the decision to sell, assign, or otherwise
<br />transfer their business was made within less than a ninety (90) day period
<br />prior to the sale, assignment, or transfer, in which case the transferor shall
<br />then immediately notify the successor of the successor's responsibility for
<br />unpaid business license taxes, including penalties, interest, charges, fees, or
<br />costs (hereinafter collectively referred to as business license tax liabilities) for
<br />the period prior to the sale, assignment, or transfer as set forth in subsections
<br />(d) and (e) below, and shall further certify in writing to the collector that the
<br />successor was notified of the requirements of this Article regarding their
<br />responsibility for unpaid business license tax liabilities.
<br />(b) Remitting and reporting requirements. Each medicinal cannabis retail business
<br />owner/operator upon the sale, assignment, or other transfer, or termination of
<br />business for any reason shall, on or before the last day of the month following the
<br />sale, assignment, transfer, or termination of business, file a final return to the
<br />collector on City approved forms, of the total gross receipts received, adjustments
<br />to gross receipts, the amount of business license tax collected for the reporting
<br />period, remittances made, if any, and the balance of the business license tax due,
<br />if any, shall be remitted to the collector.
<br />(c) Closeout audit. After filing the final return and remitting the balance due, the
<br />medicinal cannabis retail business owner/operator shall make its records of
<br />account available for a closeout audit by the collector, his or her revenue officers,
<br />or duly authorized employees or agents of the City. The decision to perform a
<br />closeout audit shall be made solely at the discretion of the collector. If, upon
<br />closeout audit, or by means of other information available to them, the collector
<br />determines that the owner/operator selling, assigning, or otherwise transferring, or
<br />terminating their business is found to have satisfied all business license tax
<br />liabilities, the collector shall issue to such business owner/operator a certificate of
<br />nonliability.
<br />If, upon closeout audit, or by means of other information available to them, the
<br />collector determines that the owner/operator selling, assigning or otherwise
<br />transferring, or terminating their business is deficient in either their return or
<br />remittance, or both, the collector shall immediately notify such owner/operator of
<br />the amount of the net deficiency, plus applicable penalties, interest, charges, fees,
<br />or costs. Upon such owner's/operator's remittance of all business license tax
<br />liabilities owing, the collector shall issue a certificate of nonliability.
<br />75A-14
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