(a) If any amount of tax imposed by this chapter, other than moneys withheld or required to be withheld by employers, is not paid on or before the last date prescribed for payment, there shall be imposed a penalty of the amount equal to twenty percent (20%) of such tax not paid.
(Ord. 83-1993. Passed 8-16-93.)
(b) If any amount of tax imposed by this chapter which has been withheld, or is required to be withheld by employers, is not paid on or before the last date prescribed for payment, there shall be imposed a penalty of ten percent (10%) per month or fraction thereof, not to exceed fifty percent (50%), of the tax amount not paid.
(Ord. 49-1984. Passed 6-18-84.)
(c) For the underpayment of estimated taxes as provided in Section 157.1303 there is a charge of twenty-five dollars ($25.00) when the sum of the amount of quarterly installment payments actually made for the current year tax totals less than eighty percent (80%) of the amount of tax due for the year as shown by the annual return. No penalty shall be assessed for the underpayment of estimated taxes when the amount of quarterly installments made for the current tax year is equal to or greater than the amount of tax due for the immediate preceding year.
(Ord. 83-1993. Passed 8-16-93.)