§ 6-24. Persons beginning business.

(a)

Every person beginning a business under this article shall estimate the amount of such gross receipts, or gross purchases in the case of wholesale merchants, that he will receive between the date of beginning business and the end of the license year. The license tax for the first license year shall be calculated using such estimate. The estimate shall also be used to calculate the applicable fee which the business shall pay pursuant to section 6-4 of this chapter.

(b)

Every person whose business was licensed under this article for only a part of the preceding license year shall estimate the amount of the gross receipts, or gross purchases in the case of wholesale merchants, of the business that he will receive during the then-current license year, and the license tax on such business shall be calculated based on such estimate. The estimate shall also be used to calculate the applicable fee which the business shall pay pursuant to section 6-4 of this chapter.

(c)

Every estimate made in accordance with the provisions of this section shall be subject to correction by the commissioner of the revenue at the close of the license year so that the final tax will be computed on the basis of the actual gross receipts, or gross purchases in the case of wholesale merchants, at the end of the license year. This corrected tax, if more than the estimated tax, shall be in addition to the tax for the license tax year following the year for which the correction was made and must be paid at the same time as such tax.