§ 74-117. Tax returns; payment of estimated taxes.

(a)

On or before the 20th day of the month succeeding each monthly period, a return for the preceding monthly period together with appropriate remittance shall be filed with the finance director.

(b)

The return shall report the gross rent, taxable rent, exempt rent, amount of tax collected or otherwise due for the period, and such other information as may be required by the finance director. However, if the estimated tax liability for any monthly period shall exceed $2,500.00 for a lodging provider who, in the prior fiscal year remitted tax greater than $2,500.00 in any three consecutive months, such lodging provider shall file an estimated return and remit not less than 50 percent of the estimated tax liability for the monthly period by the 20th day of that same monthly period. The amount of tax so remitted shall be credited against the amount to be due with the regular return for the monthly period to be filed on the 20th day of the succeeding month.

(Code 1979, ch. 7, § 6(f))