A penalty shall not be assessed on an additional tax assessment made by the Tax Administrator when a city income tax return has been filed in good faith and the tax paid thereon within the time prescribed by Section 191.1101 provided that the additional tax assessment shall be paid within the time prescribed by the Tax Administrator for payment of such additional tax; and provided further, that in the absence of fraud, neither penalty nor interest shall be assessed on any additional city income tax assessment resulting from a federal audit, providing an amended city income tax return is filed and the additional city income tax is paid within three (3) months after a final determination of the federal income tax liability.
(Ord. No. 2208-04. Passed 12-13-04, eff. 12-17-04)