(a) Every payor of sales tax engaged in activity subject to this chapter shall keep and preserve suitable records of all sales and such other books or accounts as may be necessary to determine the amount of tax which he is obliged to collect. Every payor of sales tax shall preserve suitable records of sales for a period of three years from the date of the return reporting such sales, and shall preserve for a period of four years all invoices of goods and merchandise purchased for resale, and all such other books, invoices and records as may be necessary to accurately determine the amount of taxes which the payor of sales tax was obliged to collect under this chapter.

(b) Every payor of sales tax shall immediately notify the City of any fire, theft or other casualty which prevents his or her compliance with this chapter. The casualty constitutes a defense to any penalty provided in this chapter if determined to be the proximate cause of the failure to comply for a given reporting period, but does not excuse the payor of sales tax from liability of taxes due. Accidental loss of funds or records is not a defense against the penalties of this chapter.

(c) Every payor of sales tax doing business within the City consents to the inspection by a duly authorized representative of the City for purposes incidental to enforcement of the sales tax of its Alaska business license, the records identified in subsection (a) of this section, its fish purchase records, its fisheries business tax returns filed with the State of Alaska, and any other relevant business record.

(d) If the City is unable to ascertain the amount of tax due from a payor of sales tax because the payor of sales tax has failed to keep accurate records, has failed or refused to allow an inspection of records, has failed to file a return, has falsified records or has improperly calculated the tax, then the City may estimate the tax due based upon any information available to it. The City shall send a written notice of the estimated tax to the seller.

(e) Intentional falsification or misrepresentation of any record filed with the City hereunder or required to be kept hereby, if used to mislead City tax authorities, or refusal of the payor of sales tax to allow inspection of records required to be kept by this chapter constitutes a misdemeanor and is punishable by imprisonment for up to 30 days and by a fine not to exceed $500.00 in addition to any civil penalty assessed.

(f) The City Advisory Committee may examine and review any relevant books, papers, records, returns or memoranda of any payor of sales tax, may require the attendance of any payor of sales tax or any officer or employee of a payor of sales tax at a meeting or hearing, and may require production of all relevant business records, in order to determine whether the payor of sales tax has complied with this chapter. [Ord. 19-06 § 2, 2019.]