(a) All taxes imposed, including estimated taxes, and all moneys 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 1% per month or fraction of a month.
(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, including estimated payments, when due, other than taxes withheld, 1% per month or fraction of a month, with a minimum penalty of not less than twenty-five dollars ($25.00).
(2) For failure to remit taxes withheld from employees, 10% per month or fraction of a month, with a minimum penalty of two hundred fifty dollars ($250.00).
(3) For failure to file the tax return when due, and if the taxpayer is not otherwise exempt from the filing requirement, the Tax Administrator may impose a penalty of twenty-five dollars ($25.00) for each offense, in addition to any other penalties which may otherwise be imposed.
(c) A penalty shall not be assessed on an additional tax assessment made by the Administrator when a return has been filed in good faith and the tax paid thereon within the time prescribed by the Tax Administrator; 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 audit, providing an amended return is filed, and the additional tax is paid within three months after final determination of the Federal tax liability.
(d) Upon recommendation of the Tax Administrator, the Board of Review may abate penalty or interest, or both, as in its discretion deems proper.
(Ord. 2010-51. Passed 5-12-10.)