Any retailer who sells out his or her business or stock of goods or who quits business shall be required to notify the tax and licensing division in writing of his or her intent to quit business and to make out a return and pay all taxes due and owing to the City, including those incurred on the sale of the business, within ten days after the date upon which he or she sells the business or stock of goods or quits business. The purchaser of any such business or stock of goods shall be required to withhold sufficient purchase money to cover the amount of all taxes due and unpaid, until such time as the previous owner produces a receipt from the finance director showing that all taxes have been paid, or a certificate showing that no taxes are due. If no such receipt or certificate is produced within the ten-day period, the purchaser shall remit directly to the City, from the purchase money withheld to cover such taxes, all taxes due and owing, including those incurred on the sale of the business, at the time provided in section 130-76. (Code 1979, § 36-33; Ord. No. 2017-13, § 8, 4-3-2017)