HomeMy WebLinkAbout106 - 11/03/2009 - AMENDING SECTION 25-123(c) OF THE CITY CODE RELATING TO THE VENDOR FEE FOR COLLECTING AND REMITTING ORDINANCE NO. 106, 2009
OF THE COUNCIL OF THE CITY OF FORT COLLINS
AMENDING SECTION 25-123(c)
OF THE CODE OF THE CITY OF FORT COLLINS
RELATING TO THE VENDOR FEE
FOR COLLECTING AND REMITTING SALES TAX
WHEREAS, Section 25-123(c) of the City Code authorizes retailers to retain one percent
of the first $4500 of the amount of sales tax they collect for the City (the "Vendor's Fee"); and
WHEREAS, the Vendor's Fee was originally adopted in recognition of the time and
effort expended by retailers to collect the City's sales tax from their customers; and
WHEREAS, current business practices include automated accounting processes that have
significantly reduced the time retailers need to invest in collecting the City's sales tax; and
WHEREAS, the total amount currently retained by retailers is approximately $300,000
per year; and
WHEREAS, the loss of this amount of sales tax revenues has a significant negative effect
on the City and its citizens given the recent budget constraints; and
WHEREAS, the City Council believes it to be in the best interests of the City to
eliminate the Vendor's Fee and to utilize the resulting savings to help defray City expenses.-
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS as follows:
Section 1. That Section 25-123(c) of the City Code is hereby amended to read as
follows:
Sec. 25-123. Remittance of sales tax collected by retailer.
(c) Every retailer shall file a tax return each month with the Financial Officer
on or before the twentieth day of each month for the preceding month and remit
the tax due to the Financial Officer simultaneously therewith.
Section 2. That this Ordinance shall become effective on January 1, 2010.
Introduced, considered favorably on first reading, and ordered published this 20th day of
October, A.D. 2009, and to be presented for final passage on t rd day of November, A.D.
2009.
Mayor ,
ATTEST:
ALL
City Clerk
Passed and adopted on final reading on the 3rd day of November, A.D. 2009.
May r
`ATTEST:
City Clerk