ARTICLE I. BUSINESS LICENSE TAX IN GENERAL; ADMINISTRATION

Sec. 14-5. Determination of gross receipts for beginning businesses and businesses not in existence for the entire previous year.

(a) Every person beginning a business, profession, trade or occupation which is subject to a license tax under the provisions of this chapter shall estimate the amount of gross receipts between the date of beginning business and the end of the then current license year. The license tax for the current year shall be computed on such estimate. The amount of license tax for the license year immediately following the license year of beginning business shall be estimated on a pro rata basis using the actual gross receipts received in the portion of the beginning license year during which the business was operating. Whenever a license tax is computed upon an estimate of gross receipts, such estimate shall be subject to adjustment by the commissioner of the revenue at the end of the license year to reflect actual gross receipts, and he shall give credit for any overpayment or shall impose an additional charge for any underpayment on the license tax payable the following year. Upon application of the licensee, the commissioner shall authorize in lieu of a credit a refund in accordance with section 14-14.

(b) In the event any person required to pay a license tax under the provisions of this chapter, when the tax is not measured by gross receipts or graduated in any other way, shall begin any business, occupation or profession after the first day of January of any year, the license tax shall be prorated on a monthly basis, one-twelfth of the annual license tax to be assessed for each month or portion thereof for the remainder of the license year, except as otherwise provided in this chapter. No such tax shall be subject to proration when the license tax for the whole year would be fifty dollars ($50.00) or less.