Each operator shall, on or before the last day of each month, make a return to the Tax Collector, on forms provided by the Tax Collector, of the total rents charged and the amount of tax calculated for transient occupancies for the preceding month. At the time the return is filed, the full amount of the tax collected shall be remitted to the Tax Collector. The Tax Collector may establish shorter reporting periods for any certificate holder if he or she deems it necessary in order to insure collection of the tax and he or she may require further information in the return. Returns and payments are due immediately upon cessation of business for any reason. All taxes collected by operators pursuant to this chapter shall be held in trust for the account of the City until payment thereof is made to the Tax Collector.