(a) The payment of the occupation tax herein levied shall be in quarterly payments, using the calendar quarter year as a basis for determining and computing the amount of tax payable. Each quarterly payment shall be due forty-five (45) days after the termination of each calendar quarter year. All payments of tax made after the due date shall draw interest at the rate of one percent per month and, after payment has been in default for six (6) months, a penalty of fourteen (14) per cent shall be added thereto in addition to the interest charges and shall be paid by the company or companies subject to this occupation tax. Each succeeding payment may make such adjustment to be shown on the report hereinafter provided for as may be necessary for uncollectibles or any other matters which may have resulted in either an excess or deficiency in the amount of tax paid in any previous quarter.
(b) The occupation tax herein levied shall be paid the treasurer at the time provided in this division and he or she shall issue and deliver his or her receipt therefor on the payment thereon, and the amount of payment shall be credited by the treasurer to the general fund or as otherwise directed by resolution.
Source: Code 1962, § § 5-21-2, 5-21-5; Ord. No. 4926, § 1, 2-5-07