In addition to interest as provided in Section 181.08 hereof, penalties based on the unpaid tax are hereby imposed as follows:
(a) For failure to pay taxes due on or before the last date prescribed in this chapter for payment -- other than taxes withheld; two percent (2%) per month or fraction thereof or thirty-five dollars ($35.00), whichever is greater, not to exceed fifty percent (50%) of the amount of taxes not paid.
(b) For failure to remit taxes withheld from employees on or before the last date prescribed in this chapter for payment; four percent (4%) per month or fraction thereof, not to exceed fifty percent (50%) of the amount of taxes not remitted.
(c) If the sum of the amounts of quarterly installment payments made for the current tax year totals less than eighty (80%) of the amount of tax due for such year, as shown by the annual return, a penalty of twenty-five dollars ($25.00) shall be assessed; provided, however, that no such penalty shall be assessed if the amount of quarterly installment payments made for such current tax year is equal to or greater than amount of the tax due for the immediately preceding tax year.
(Ord. 2001-36. Passed 9-10-01.)