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3.01.050 Excess tax-Remittance

If any vendor, during any reporting period, collects as a tax an amount in excess of three percent of his total taxable sales, then he shall remit to the Finance Director the full net amount of the tax imposed in this chapter and also such excess amount. The retention by the retailer or vendor of any excess amount of tax collections over the three percent of the total taxable sales of such retailer or vendor or the intentional failure to remit punctually to the Finance Director the full amount required to be remitted by the provisions of this chapter is declared to be a violation of this chapter and shall be recovered, together with interest, penalties and costs, as provided in Section 3.01.260. (Ord. O-2005-26 § 3,4 2005; Ord. O-85-137 § 1 (part), 1985).