A. If a distributor sells, assigns, transfers, conveys, leases, forfeits or abandons the business to another person, the distributor shall make a final excise tax report and pay all outstanding taxes within 15 days after the date of selling, assigning, transferring, conveying, leasing, forfeiting or abandoning the business. The report shall show that any and all tax obligations imposed by this chapter are paid concurrently with the filing of the report or have been paid. The purchaser, successor, transferee, lessee, assignee, creditor or secured party shall withhold a sufficient portion of the purchase money to pay the amount of any excise taxes, penalties and interest as may be due and unpaid to the Borough. If the purchaser, assignee, transferee, lessee, successor, creditor or secured party fails to withhold from the purchase money, or fails to otherwise provide for or make the payment of the taxes, interest and penalty owed by distributor as provided in this chapter, the purchaser, assignee, transferee, lessee, successor, creditor or secured party shall be personally liable for the payment of the taxes, penalties and interest accruing and unpaid to the Borough on account of the operation of the distributorship of any former owner, owners, operators or assigns.

B. Before the sale, lease, assignment, transfer, or other disposition of the business is completed, the distributor shall file with the Borough an informational notice identifying the name and address of each person involved in the transaction, the nature of the transaction, and the effective date of the transaction. (Ord. 2004-18 § 2, 2004. 2004 Code § 3.57.150.)