A. The seller shall report and remit the tax on the same basis, cash or accrual, as the seller uses for reporting federal income tax.

B. Upon collection by the seller of the tax imposed herein, title to the collected tax immediately vests in the Borough, and the tax shall be held in trust by the seller until remitted as required by this chapter.

C. The director may conduct audits, investigations, and/or hearings concerning any matters covered by this chapter, and may examine any relevant written or electronic records of any seller. If the director conducts a hearing, the Hearing Officer may issue subpoenas and subpoenas duces tecum and may exercise any other powers not prohibited by law.

D. Any person or any other entity acquiring an ownership interest in an ongoing business or the accounts receivable of a business, whether by purchase, assignment, foreclosure, relinquishment, or otherwise, is jointly and severally liable for any tax not remitted by the business, any violations of this chapter by such business, and any unpaid penalties and accrued interest imposed against such business under this chapter. (Ord. 2004-14 § 2, 2004. 2004 Code § 3.59.070.)