A. A seller that ceases to engage in business in the city without a transfer of business shall file with the city a business license closure form, a final sales tax return and remit any sales tax due, for the period ending on the date that the seller ceases to engage in business in the city, not later than 30 calendar days after that date.

B. A seller that transfers its business in the city shall provide the transferee with written notice of the transferee’s obligations, if any, to the city not less than 15 days before the effective date of the transfer, but neither the seller’s failure to give notice nor the transferee’s failure to receive notice shall relieve the transferee of any such obligations. The seller shall file with the city a business license closure form, a final sales tax return and remit any sales tax due, for the period ending on the effective date of the transfer, not later than 30 days after the effective date, and provide a copy of the return to the transferee. The seller shall also file proof that it provided the transferee with written notice of any obligations owed to the city.

C. The transferee of a business, with written consent of the owner, shall obtain from the city before the effective date of the transfer an estimate of the delinquent sale tax, penalty and interest, if any, owed by the seller as of the date of the transfer, and shall withhold that amount from consideration payable for the transfer, until the seller has produced a receipt from the city showing that all tax obligations imposed by this chapter have been paid. A transferee that fails to withhold the amount required under this subsection shall be liable to the city for the lesser of the amount of the delinquent sales tax, penalty and interest due from the seller as of the date of the transfer, and the amount that the transferee was required to withhold.

D. In this section, the term “transfer” includes the following: