(a) A penalty shall be imposed in the amount of twenty-five dollars ($25.00) on any return required herein, not filed on the due date, or any extension thereof, under the provisions of this chapter.
(b) Interest based on the unpaid tax is hereby imposed as follows:
(1) For failure to pay taxes due, other than taxes withheld, one and one-half percent (1 ½%) per month or fraction thereof.
(2) For failure to remit taxes withheld from employees, three percent (3%) per month or fraction thereof.
(Ord. 02-111. Passed 10-14-02.)
(c) The penalties provided in subsection (b) hereof, shall not be assessed on an additional tax assessment made by the Income Tax Department when a return has been filed in good faith and the tax paid thereon within the time prescribed by this chapter. In the absence of fraud, neither penalty nor interest shall be assessed on any additional tax assessment resulting from a Federal audit, provided an amended return is filed and the additional tax is paid within three months after final determination of the Federal tax liability.
(d) Upon recommendation of the Income Tax Department, the Board of Review may abate penalty or interest, or both, or upon an appeal from the refusal of the Income Tax Department to recommend abatement of penalty and interest, the Board of Review may nevertheless abate penalty or interest, or both.
(Ord. 01-126. Passed 11-26-01.)