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(g) Interest at the rate of ten percent (10%) per annum shall be charged on the late • payment of the issuance fee and tax from the due date until the date paid without regard to fault or other reason for the late payment. Whenever an assessment of additional or omitted tax by the assessing offieittl Commissioner is found to be erroneous, all interest and penalty any penalties charged and collected on the amount of the assessment found to be erroneous shall be refunded together with interest on the refund from the date of payment or the due date, whichever is later. Interest shall be paid on the refund of a license issuance fee and tax from the date of payment or due date, whichever is later, whether attributable to an amended return or other reason. Interest on any refund shall be paid at ten percent (10%) per annum. (h) No interest shall accrue on an adjustment of estimated tax liability to actual liability at the conclusion of a base year. No interest shall be paid on a refund or charged on a late payment, provided the refund or the late payment is made not more than thirty (30) days from the date of the payment that created the refund or the due date of the tax, whichever is later. (i) The provisions of this section relating to penalties and interest shall be applicable to assessments made on and after January 1, 1997, even if for an earlier license year. Section 14-13. Term of license; proration of tax. (a) Unless otherwise expressly provided in this chapter, all licenses shall be deemed to be issued for the current license year. No license issuance fee and or license tax imposed by this • chapter shall, upon issuance, be subject to proration for any portion of a license year, unless it be herein provided to the contrary. (b) ... (c) For the purpose of ascertaining the tax to be paid by every person beginning business whose license tax is based on sales, purchases, gross receipts or commissions, the license shall be based on the estimated amount of sales, purchases, gross receipts or commissions which will be made during the balance of the license year. in the ease of any merehant operating a seasonal 0 temporary business, the estimated lieense tax paid shall not be less than one htmdred fifty dollar -s (SSA 09} Every underestimate or overestimate under this section shall be subject to correction by the commissioner of revenue, whose duty it shall be to review all estimated licenses and assess any additional licenses as may be found to be due after the close of the license year on the basis of true sales, purchases, gross receipts or commissions. Any taxpayer who has overestimated shall be entitled to a refund or credit of the amount so overestimated. (d) ... Section 14-14. Taxpayer's records and audits. (a) Every person who is assessable with a local license issuance fee and or license tax shall keep sufficient records to enable the Commissioner to verify the correctness of the tax paid • Page 11 of 26