(a) All taxes imposed and all monies withheld or required to be withheld by employers under the provisions of this chapter that remain unpaid after they become due and payable shall bear interest at the rate of one and one-half percent (1-1/2%) per month or any fraction thereof that they remain unpaid.
(b) In addition to interest as provided in subsection (a) hereof, penalties based on the unpaid tax are hereby imposed as follows:
(1) For failure to pay taxes due, other than taxes withheld; one and one-half percent ( 1-1/2%) per month or fraction thereof that these taxes remain unpaid after they become due and payable or twenty dollars ($20.00), whichever is greater.
(2) For failure to remit taxes withheld from employees; five percent (5%) per month or fraction thereof, not to exceed 25% of these taxes that remain unpaid after they become due and payable or twenty dollars ($20.00), whichever is greater.
(c) The minimum penalty for failure to file a complete and timely tax return as specified in Section 183.06 shall be twenty dollars ($20.00) whether or not a tax is due.
(d) Exceptions - A penalty shall not be assessed on an additional tax assessment made by the Finance Director when a return has been filed in good faith and the tax is paid thereon within the time prescribed by the Finance Director; and provided further, that in the absence of fraud, neither penalty nor interest shall be assessed on any additional tax assessment resulting from a Federal or State Income tax audit, providing an amended return is filed and the additional tax is paid within three (3) months after final determination date of the Federal or State audit. Interest, penalty or any other similar assessment or charge, that is otherwise assessed against a taxpayer for the late payment or nonpayment of estimated tax, shall not be imposed in either of the following circumstances:
(1) The taxpayer is an individual who resides in the Municipal corporation but was not domiciled there on the first day of January of the tax year for which the estimated tax declaration was required.
(2) The taxpayer has remitted an amount at least equal to one hundred percent (100%) of the taxpayer's liability for the preceding year as shown on the return filed by the taxpayer for the preceding year provided that the return for the preceding year reflected a twelve-month period and the taxpayer filed a return for the preceding year.
(e) The Finance Director may abate and waive any penalty imposed by this chapter. Only the Board of Review may waive applicable interest charges. Upon appeal from the refusal of the Finance Director to recommend abatement of penalty, the Board of Review may nevertheless abate penalty or interest, or both.
(Ord. 2013-37. Passed 11-20-13.)