173.25 PENALTY EXCEPTIONS.

   (a)    A penalty on unpaid taxes shall not be assessed on an additional tax assessment made by the Tax Administrator when a return has been timely filed in good faith and the tax paid thereon within the time prescribed by the Tax Administrator. 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 in three months after a final determination of the federal tax liability.

   (b)    For good cause shown, the Tax Administrator may waive the penalty assessed for the failure or neglect to timely file any return or declaration required by this chapter when such return or declaration is filed within the time prescribed by the Tax Administrator.

(Ord. 2004-218. Passed 12-21-04.)