§ 40-10. Underestimated anticipated annual gross receipts, gross business or gross commissions.

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When any preliminary license tax shall be based on the best estimate of the applicant and such estimate shall prove to be less than 80 percent of the actual annual gross receipts, annual gross business or annual gross commissions, or any combination thereof, computed pursuant to section 40-63, interest at the rate per annum determined by Section 32.065 of the Missouri Revised Statutes upon any resulting deficiency of the preliminary license tax shall be added to the annual license tax, computed from the due date of the preliminary license tax to the date of payment of the annual license tax; provided, however, that no interest shall be applied to a resulting deficiency wherein the preliminary license tax was paid on the basis of the licensee's true preceding year's annual gross receipts, annual gross business or annual gross commissions.

(Code of Gen. Ords. 1967, § 21.8.3; Ord. No. 47195, 11-10-76; Ord. No. 120672, § 1, 8-2-12)

                    
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