(A) The city may grant any business entity an extension of not more than six months for filing its return, unless a longer extension has been granted by the Internal Revenue Service or a longer extension is agreed to by the city and the business entity. An extension will only be granted if the business entity, on or before the date prescribed for payment of the occupational license tax, requests the extension and pays the amount properly estimated as its tax. For an extension of other than the first automatic extension, the business entity must submit to the city a copy of the extension with evidence showing that the IRS has accepted and approved the requested extension.
(B) (1) If the time for filing a return is extended, the business shall pay, as part of the tax, an amount equal to 12% per annum simple interest on the tax shown due on the return, but not been previously paid, from the time the tax was due until the return is actually filed and the tax paid to the city.
(2) A fraction of a month is counted as an entire month.
(1984 Code, § 110.08) (Ord. O-77-82, passed 11-30-1982; Ord. O-78-82, passed 11-30-1982; Ord. O-23-84, passed 4-24-1984; Ord. O-47-93, passed 11-9-1993; Ord. O-49-94, passed 12-29-1994; Ord. O-47-01, passed 11-13-2001; Ord. O-65-04, passed 12-7-2004; Ord. O-18-19, passed 6-24-2019)