(A) All taxes imposed and all monies withheld or required to be withheld by employers under the provisions of this chapter and remaining unpaid after they become due shall bear interest at the rate of 1.5% per month or fraction thereof.
(B) In addition to interest as provided in division (A) hereof, penalties are hereby imposed as follows:
(1) For failure to file a return when due, pay taxes when due, or, pay taxes on declarations in accordance with § 95.07: $0.50 per business day from the day due until the day received (minimum $10).
(2) For failure to remit taxes withheld from employees when due: The greater of 3% per month or fraction thereof times the unpaid tax, or $10 per month or fraction thereof.
(C) Exceptions. A penalty shall not be assessed on an additional tax assessment made by the Commissioner when a return has been filed in good faith and the tax paid thereon within the time prescribed by the Commissioner. In the absence of fraud, 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 months after final determination of the federal tax liability.
(D) Upon recommendation of the Commissioner, the Board of Review may abate penalty or interest, or both, or upon an appeal from the refusal of the Commissioner to recommend abatement of penalty or interest, the Board may nevertheless abate penalty or interest, or both.
(1980 Code, § 95.10) (Ord. 3218, passed 12-16-1974; Am. Ord. 4205, passed 4-19-1982; Am. Ord. 7192, passed 12-15-2003)