All sellers and persons rendering sales tax returns to the borough shall be allowed to compensate themselves for costs incurred in the collection, record keeping, remittance, and accounting for the tax imposed by taking one percent of the tax due as a tax collection discount. The discount shall be applied to reduce the tax to be remitted on any monthly return that is filed at any time during the month following the month that taxes are collected with a remittance of all sales taxes due for that month. The deduction may not be taken if any sales tax, penalty, or interest is due for any previous reporting period.