(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 one-half of one percent (½ %) per month or fraction thereof, compounded monthly.
(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-half percent (½ %) per month or fraction thereof, or fifty dollars ($50.00) whichever is greater.
(2) For failure to remit taxes withheld from employees; three percent (3%) per month or fraction thereof, or one hundred dollars ($100.00) whichever is greater.
(c) A penalty shall not be assessed on an additional tax assessment made by the Director when a return has been filed in good faith and the tax paid thereon within the time prescribed by the Director. In the absence of fraud, neither penalty nor interest shall be assessed on any additional tax assessment resulting from a federal audit for Federal Income Tax purposes, providing an amended return is filed and the additional tax is paid within three (3) months after final determination of the Federal tax liability.
(d) Upon recommendation of the Director, the Board of Review may abate penalty, interest, or both, or upon an appeal from the refusal of the Director to recommend abatement of penalty and interest, the Board may nevertheless abate penalty, interest, or both.
(e) If penalty and interest charges have been assessed according to this section, all payments made will first be applied toward such assessment and then toward the amount of tax due.
(f) All taxpayers are required to file a return. Those individuals who are subject to the provisions of this chapter and fail to comply with the requirements contained herein may have their names published in a newspaper of local circulation, pursuant to a procedure to be determined at the discretion of the Director of Taxation and approved by Council. The Director, at his discretion and with the approval of Council, shall implement a procedure whereby those individuals who fail to comply with the requirements of this chapter shall receive written notification of their noncompliance and accordingly, shall have a reasonable opportunity to comply, before having their names and status as delinquent published in the newspaper.
(Ord. 2005-27. Passed 11-7-05.)