§ 16A-22. Collection procedures on purchase of hotel.

(a)

If a person who is liable for the payment of a tax under this article is the owner of a hotel and sells the hotel, the successor to the seller or the seller's assignee shall withhold an amount of the purchase price sufficient to pay the amount due until the seller provides a receipt by the chief financial officer showing that the amount has been paid or a certificate showing that no tax is due.

(b)

The purchaser of a hotel who fails to withhold an amount of the purchase price as required by this section is liable for the amount required to be withheld to the extent of the value of the purchase price.

(c)

The purchaser of a hotel may request that the chief financial officer provide a receipt under subsection (a) and issue a certificate stating that no tax is due or issue a statement of the amount required to be paid before a certificate may be issued. The chief financial officer shall issue the certificate or statement not later than the sixtieth day after the date that the chief financial officer receives the request.

(d)

If the chief financial officer fails to issue the certificate or statement within the period provided by subsection (c), the purchaser is released from the obligation to withhold the purchase price or pay the amount due.

(Ord. No. 8930, § 1, 3-13-08)