(a) All taxes imposed by this chapter, including taxes withheld or required to be withheld from wages by an employer and remaining unpaid after they have become due, shall bear interest on the amount of the unpaid tax at the rate of twelve percent per annum or fraction thereof.
(b) In addition to interest as provided in subsection (a) hereof, penalties based on the unpaid tax, other than taxes withheld or required to be withheld from salaries, wages and other compensation by an employer, are hereby imposed as follows:
(1) For failure to pay taxes, including estimated payments, when due, other than taxes withheld, one percent (1%) per month or fraction of a month, with a minimum penalty of not less than twenty-five dollars ($25.00); and
(2) For failure to file the tax return when due, regardless of any tax due, and if the Taxpayer is not otherwise exempt from the filing requirement, the Clerk-Treasurer may impose a penalty of twenty- five dollars ($25.00) for each offense, in addition to any other penalties which may otherwise be imposed.
A penalty shall not be assessed on an additional tax assessment made by the Clerk-Treasurer when a return has been filed in good faith and the tax paid thereon within the time prescribed by Clerk-Treasurer; provided further that, in the absence of fraud, neither penalty nor interest shall be assessed on an 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.
(c) In addition to the interest and penalties set forth in subsections (a) and (b) hereof, any employer who fails to pay taxes withheld from employees, in accordance with the provisions of Sections 880.21 to 880.24, shall pay as an additional penalty per month or fraction thereof ten percent of the unpaid tax.
(d) Upon recommendation of the Clerk-Treasurer, the Board of Review may abate interest or penalties, or both, and upon appeal from the refusal of the Clerk- Treasurer to so recommend, the Board of Review may nevertheless abate interest or penalty, or both, for good cause shown.
(Ord. 00-029. Passed 8-1-00; Ord. 06-003. Passed 2-21-06; Ord. 07-029. Passed 12-11-07; Ord. 11-076. Passed 12-27-11.)