If any vendor shall during any reporting period collect as a tax any amount in excess of two and one-half percent (2½%) of his total taxable sales, he shall remit to the finance director the full net amount of the tax herein imposed, and also such excess. The retention by the retailer or vendor of any excess tax collections or the intentional failure to remit punctually to the finance director the full amount required to be remitted by the provisions of this chapter is hereby declared to be a violation of this chapter. (Ord. 30, Series 2021)