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Windsor adopts change requiring monthly meals-tax reporting to boost cash flow
Summary
The Windsor Town Council voted to amend Chapter 130 to require monthly meals-tax reports and remittances, a change staff said will improve revenue forecasting and reduce funds held outside town accounts.
The Windsor Town Council on July 14 adopted an amendment to Chapter 130 (Taxation), Article 4 (Meals Tax), changing the reporting and remittance frequency from quarterly to monthly. Town Manager William Saunders IV told council the change "would aid in forecasting revenue and stabilizing cash flow," and that nine businesses currently remit quarterly while seven remit monthly voluntarily.
Saunders said shortening the remittance period would reduce the amount of privately held tax receipts between reporting periods because meals-tax collections are treated as funds held in trust for the town. Attorney Fred D. Taylor clarified that if the 20th-day due date falls on a weekend or holiday, "the due date would go without penalty to the next business day." Vice Mayor David Adams moved to adopt the amendment; Councilman "Gibbie" Dowdy seconded and the motion was recorded as Motion #5 and adopted.
