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ORDINANCE NS-2162 ~65 Page 14 purchaser or transferee of their responsibility for unpaid taxes as set forth in subsections (c) and (d) below, and further certify in writing to the finance director that the transferee or purchaser was notified of the requirements of this article regarding its responsibility for unpaid collected taxes. (b) Remitting and reporting requirements. Each operator upon the transfer or cessation of business for any reason shall, on or before the last day of the next month following the transfer or cessation of business, make a return to the finance director on approved forms of the total taxable rents charged, the amount of tax collected for the reporting period, remittances made, if any, and the balance of the tax due, if any, shall be remitted to the finance director. (c) Closeout audit. After filing the final return and remitting the balance due, the operator shall make his records of account available for a closeout audit by the finance director or duly authorized employee or agent of the city. If, upon audit by the city, the operator transferring or quitting his business is found to have satisfied all transient occupancy liability, the finance director shall issue to such operator a certificate of nonliability stating the nonliability of the operator for payment of transient occupancy taxes. If, upon audit by the city, the operator transferring or quitting his business is deficient in either his return or his remittance or both, the finance director shall immediately assess such operator the amount of the net deficiency in accordance with section 35-132 above. Upon such operator's remittance of the deficient amount plus any penalty and interest assessed, the finance director shall issue a certificate of nonliability. (d) Successor's duty to notify. If an operator who is liable for any' transient occupancy taxes, penalties or interest under this article sells, or otherwise transfers his business, his assignee or successor in interest shall notify the finance director of the date of the sale or transfer at least thirty (30) days before the date of the sale or transfer. If the decision to sell or transfer was made within less than a thirty (30) day period prior to the sale or transfer, the assignee or successor in interest shall notify the finance director immediately and shall withhold an amount equal to the accrued or outstanding transient occupancy tax liability of the operator until the transferring operator produces either a receipt from the finance director showing that the tax, including any penalty, interest or other charge or cost outstanding, has been paid or a certificate of nonliability stating the nonliability of the operator for payment of transient occupancy tax. If the transferor does not 14