12-5303.   Same; collection; records; returns; administrative fee; ratefixed annually; audit of supplier.(a) Any tax imposed under authority of this act and the amounts requiredto be collected are due quarterly. The amount of tax collectedin one calendar quarter by the service supplier shall be remitted to thegoverning body no later than sixty days after the close of a calendar quarter. On or before the sixtieth day of each calendar quarter following, a returnfor the preceding quarter shall be filed with the governing body in suchform as the governing body and service supplier shall agree. The servicesupplier required to file the return shall deliver the return together witha remittance of the amount of the tax payableto the office of the governing body. The service supplier shall maintainrecords of the amount of any tax collected pursuant to action in accordwith this act. Such records shall be maintained for a period of one yearfrom the time the tax is collected.

      (b)   From every remittance to the governing body made on or before thedate when the same becomes due, the service supplier required to remit thesame shall be entitled to deduct and retain, as an administrative fee, anamount equal to two percent (2%) thereof.

      (c)   At least once each calendar year, the governing body shall establisha tax rate, not to exceed the amount authorized, that together with anysurplus revenues carried forward will produce sufficient revenues to fundthe expenditures authorized by this act. Amounts collected in excess ofthat necessary within a given year shall be carried forward to subsequentyears. The governing body shall make its determination of such tax rateeach year no later than September 1 and shall fix the new rate to take effectcommencing with the first billing period of each customer on or followingthe next January 1. Immediately upon making its determination and fixingthe rate, the governing body shall publish inits minutes the new rate, and it shall notify by registered mail every servicesupplier at least ninety (90) days before such new rate will become effective. The governing body may at its own expense require an annual audit of theservice supplier's books and records concerning the collection and remittanceof the tax authorized by this act.

      History:   L. 1980, ch. 179, § 3; July 1.