(a) Interest. All taxes imposed by the chapter remaining unpaid after they become due shall bear interest in addition to the amount of the unpaid tax, at the rate of eighteen percent (18%) per annum.
(b) Penalties. In addition to the interest provided herein, penalties for non-payment of tax monies required to be withheld by employers under the provisions of this chapter are hereby imposed as follows:
(1) In the case of any taxpayer whom such taxes are imposed, the penalty shall be twenty-five dollars ($25.00) if paid between April 16th and July 15th, and fifty dollars ($50.00) if paid July 16th and after.
(2) In the case of any employer required to withhold taxes from employees under the provisions of this chapter, the interest shall be four and one half percent (4.5%) on all quarterly withholding employers and one and one half percent (1.5%) on all monthly withholding employers. Penalty shall always be twenty-five dollars ($25.00) per withholding period, quarterly or monthly.
(c) Late Filing Fees. All taxpayers who receive taxable income under this chapter and are City residents, are required to file a tax return even though they have no tax liability and shall pay a late filing fee of twenty-five dollars ($25.00) if said return is filed between April 15th and July 15th, and fifty dollars ($50.00) if said return is filed July 16th and after.
(Ord. 04-82. Passed 12-14-04.)
(d) Exceptions. No penalty shall be assessed on any additional tax assessment made by the Superintendent of Taxation and Revenue, when a return has been filed in good faith and the tax paid thereon within the time prescribed herein; and further than neither penalty nor interest shall be assessed on any additional tax assessment resulting from a federal audit, providing an amended return is filed and the additional tax is paid within three (3) months after final determination of the federal tax liability. Upon recommendation of the Superintendent of Taxation and Revenues, the Board of Review may abate penalty or interest or both, or upon an appeal from the refusal of the Superintendent of Taxation and Revenues to recommend abatement of penalty and interest, the Board of Review may nevertheless abate penalty and interest.
(e) Computed penalties of less than five dollars ($5.00) for a first violation shall not be assessed. However, notification to the taxpayer of a first time violation will be made.
(f) Upon recommendation of the Tax Commissioner, the Board of Review may abate penalty or interest, or both, or upon an appeal from the refusal of the Tax Commissioner to recommend abatement of penalty and interest concerning an item of income or expense, the Board may nevertheless abate penalty or interest, or both.
(Ord. 03-82. Passed 12-9-03.)