(a) All taxes imposed and all moneys withheld by employers under provisions of this chapter and remaining unpaid after they have become due shall bear interest at the rate of one percent (1%) per month.
(b) In addition to the interest as provided in subsection (a) hereof, penalties for failure to pay taxes and to withhold and remit taxes pursuant to the provisions of this chapter are hereby imposed as follows:
(1) In the case of a taxpayer failing to pay the full amount of tax due, the penalty shall be the higher of:
A. Twenty-five dollars ($25.00), or
B. One percent (1%) per month of the amount of the unpaid tax, if the tax is paid during the first six months after the tax become due; and a penalty of two percent (2%) per month of the unpaid tax, if the tax is paid later than six months after it became due.
(2) In the case of employers who fail to withhold and to remit to the Administrator the taxes withheld from employees, the penalty shall be the higher of:
A. Fifty dollars ($50.00), or
B. Five percent (5%) per month of the unpaid withholding, if the withholding is paid during the first six months after the withholding became due; and a penalty of ten percent (10%) per month of the unpaid withholding, if the withhold is paid later than six months after it was due.
(3) In the case of a taxpayer failing to file his/her return when due, such taxpayer shall be required to pay a late filing penalty of twenty-five dollars ($25.00).
(Ord. 37-03. Passed 12-16-03.)