(a) All taxes imposed and monies withheld or required to be withheld by employers under the provisions of this Chapter and remaining unpaid three (3) days after they become due shall bear interest at the rate of one and one-half per cent (1 ½%) per month or fraction thereof.
(b) In addition to interest as provided in Division (a) hereof, penalties are hereby imposed as follows based on the tax remaining unpaid after it becomes due:
(1) For failure to pay taxes due, other than taxes withheld, one and one-half per cent (1 1/2%) per month or fraction thereof.
(2) For failure to remit taxes withheld or required to be withheld from employees: five per cent (5%) of the unpaid withholding if paid during the first month after same becomes due, ten per cent (10%) of the unpaid withholding if paid during the second or third months after the same becomes due and fifteen per cent (15%) of the unpaid withholding if paid more than three months after the same becomes due.
(3) Where the taxpayer has failed to file a return by the due date or by the date resulting from extension, Twenty-five Dollars ($25.00).
(4) Where the taxpayer has failed to file a declaration on which he has estimated and paid a tax equal to or greater than the tax paid for the previous year, or where he has filed a previous return and has failed to file a declaration on which he has estimated and paid a tax equal to or greater than ninety per cent (90%) of the actual tax for the year, or has failed to file a return and paid the total tax on or before the end of the month following the end of the taxable year; ten per cent (10%) of the difference between ninety per cent (90%) of the actual tax for the year and the amount paid through withholding and declaration.
(5) No penalty or interest shall be charged against a taxpayer for the late payment or nonpayment of estimated tax liability if the taxpayer is an individual who resides in the municipal corporation but was not domiciled there on the first day of January of the current calendar year.
(c) Exceptions. A penalty shall not be assessed on an additional tax assessment made by the Treasurer when a return has been filed in good faith and the tax paid thereon within the time prescribed by the Treasurer; and provided further, 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 (3) months after the final determination of the federal tax liability.
(Ord. 2003-105. Passed 11-25-03.)