(A) Notwithstanding any other provisions of this chapter, license taxes for insurance companies shall be payable on or before May 31 in each year without penalty. The penalty for delinquent payments shall be five percent (5%) of the tax due per month, or portion thereof, after the due date until paid.
(B) Pursuant to S.C. Code §§ 38-45-10 and 38-45-60, the Municipal Association of South Carolina is designated the municipal agent for purposes of administration of the municipal broker’s premium tax. The agreement with the Association for administration and collection of current and delinquent license taxes from insurance companies as authorized by S.C. Code § 5-7-300 and administration of the municipal brokers premium tax in the form attached to Ord. 12-19, passed 12-10-2012, is approved, and the Mayor is authorized to execute it.
(Ord. 12-19, passed 12-10-2012)