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 Federal Heights
 Code of Ordinances
 Chapter 54. TAXATION
 Article II. SALES AND USE TAX

  § 54-37. Acquisition, inception and cessation of business.  

Latest version.

  • (a)

    Seller's responsibilities . Any person engaged in business in the city who sells such business shall file a final return. The reporting period for such return shall end on the date of the transfer of ownership of the business. However, the seller shall remain and be held liable for any unpaid taxes due.

    (b)

    Purchaser's responsibilities . The purchaser of any business shall be responsible for determining whether any sales or use tax, including penalties and interest, is owed for the business and shall withhold a sufficient amount from the purchase money to cover the amount of all outstanding sales and use tax due the city, including any penalties and interest, until the former owner shall provide a receipt from the finance director indicating that the taxes, and any penalties and interest, have been paid or a certificate that no taxes, penalties or interest are due. If the purchaser of a business or stock of goods fails to withhold purchase money as provided in this section, and taxes, penalties or interest are due and unpaid, both the purchaser and the seller shall be personally liable, jointly and severally, for the payment of the taxes, penalties and interest unpaid by the former owner. Any person who takes any stock of goods or business fixtures of or used by a retailer under lease, installment sales contract, or other contract arrangement, by purchase, foreclosure sale, or otherwise, takes the same, subject to the city's lien for unpaid taxes, if any, and shall be liable for the payment of all delinquent sales and use taxes on the value of the property so taken or acquired. The use tax due the city shall be remitted to the city on the price paid for tangible personal property other than inventory and taxable services, which are purchased to establish a new business or business location within the city. Such tax shall be reported on the initial use tax return and shall be remitted to the city on or before the 20th day of the month following the opening day of business.

(Code 1985, § 3-3-95)