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HomeMy WebLinkAbout2004-04-27; City Council; 17604; Refund to Tadpole Computer for Business TaxesTITLE: AB# 17,604 MTG. 4/27/04 REFUND TO TADPOLE COMPUTER, INC. FOR DEPT. FIN BUSINESS LICENSE TAXES RECOMMENDED ACTION: Adopt Resolution No. 2004-135 $1,398.80 in business license tax. authorizing a refund to Tadpole Computer, Inc. of DEPTHD. CITY Am. CITYMGR. z ITEM EXPLANATION: Tadpole Computer, Inc. began operations in the City of Carlsbad on December 24, 2002. At that time, the company estimated their gross receipts for the first year of operation. When Tadpole Computer, Inc. renewed their business license in December 2003, their books had not been closed for their first fiscal year, and they revised their estimated gross receipts for the first fiscal year for renewal purposes. Once the books had been closed for the first fiscal year of operation, it was determined that the actual gross receipts were significantly different than their original estimate. This figure was then used to calculate the actual business license tax owed for both the first and second year of operations. Based on this revised figure, it was determined that Tadpole Computer, Inc. had overpaid their business license tax for their first two years of operation by $1,398.80. Tadpole Computer, Inc. has requested a refund for this overpayment. The Finance Department audited the refund request by reviewing the financial statements of Tadpole Computer, Inc. for the first year of business operations, confirming the refund amount. Therefore, staff is recommending approval of a refund to Tadpole Computer, Inc. for $1,398.80. Summaw Section 5.04.130 of the Carlsbad Municipal Code requires Council approval of any refund in excess of $500.00. Therefore, staff is recommending approval of a refund to Tadpole Computer, Inc. for $1,398.80. FISCAL IMPACT: The refund of $1,398.80 to Tadpole Computer, Inc. will result in a reduction in business license revenue for fiscal year 2003-2004. EXHIBIT: 1. Resolution No. 2004-135 , Refunding Business Tax Payment to Tadpole Computer, Inc. DEPARTMENT CONTACT: Kevin Branca, (760) 602-2430, kbran@ci.carlsbad.ca.us I 2 3 4 5 E 7 e s IC 11 12 If 14 15 I€ 1i It 1: 2( 2' 22 2: 2L 2: 2t 2; 2( RESOLUTION NO. 2004-135 A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF CARLSBAD, CALIFORNIA, REFUNDING BUSINESS TAX PAYMENT TO TADPOLE COMPUTER, INC. WHEREAS, Tadpole Computer, Inc. began doing business in the City of Carlsbad on December 24, 2002 and estimated their gross receipts for their first fiscal year; and WHEREAS, Tadpole Computer, Inc. renewed their business license in February, and revised their gross receipts estimate for the first fiscal year; and WHEREAS, once the first fiscal year of operations had been completed, it was determined that the actual gross receipts were significantly different than the original estimated amount. WHEREAS, the Finance Department audited and verified the refund amount. NOW, THEREFORE, IT IS HEREBY RESOLVED AS FOLLOWS: 1. That the above recitals are all true and correct. 2. That a refund of business license tax of $1,398.80 to Tadpole Computer, Inc. is authorized . PASSED, APPROVED AND ADOPTED at a regular meeting of the City Council on the 27th day of April , 2004, by the following vote, to wit: AYES: Council Members Lewis, FiEn NOES: None ABSENT: None ATTEST: LORRAI M. WOOD, City Clerk "_syd (SEAL)