Minutes 09/12/1989 - Laserfiche WebLink

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TUESDAY, SEPTEMBER 12, 1989 Sec. 21-67. Filing of Quarterly Tax Returns and Remittance of Tax. Each certified short-term rental business under the provisions of this Article shall file a quarterly tax return with the Commissioner of the Revenue, indicating for the quarter just past: (a) the total business gross receipts of the return filer~ (b) the gross proceeds derived from the Short-term rental business; (c) all rental gross proceeds claimed to be exempt from the daily rental tax and documentation of each such claim; (d) the total daily rental tax due the City for the previous quarter's short-term rental business. Each return shall be accompanied by payment of the taxes due and owing or collected by the certified, short-term rental business. The quarterly return and payment of tax shall be filed with'the Commissioner of the Revenue on or before the 20th day of each of the months of April, July, October and January, representing, respectively, the gross proceeds and taxes collected during the preceding quarters ending March 31, June 30, September 30 and December 31. Sec. 21-68. Taxes Held in Trust for City. The taxes required to be collected under this Article shall be deemed to be held in trust by the person required to collect such taxes until remitted as required in this Article. Sec. 21-69. Penalty for Failure or Refusal to Collect Tax. If any certified., short-term rental business in the City fails or refuses to collect the tax imposed under this Article, their current Certificate of Registration shall be revoked and the business shall not be subject to the provisions of Sections 58.1-3510, 58.1-3510.1 and 58.1- 3706. C of the Virginia Code nor to the provisions of Article V, Chapter 21 of the Martinsville City Code for the calendar year in which the Certificate was revoked. Any payments of daily rental tax made previous to the revocation of the Certificate shallbe refunded to the such lessees as can be identified with the balance being credited to the omitted assessment of personal property and business license taxes due to the change in taxable status of the short-term rental business.