(a) All taxes imposed by this chapter and remaining unpaid after they become due shall bear interest in addition to the amount of the unpaid tax, at the rate of eighteen percent (18%) per annum, and the taxpayers upon whom such taxes are imposed by this chapter shall be liable in addition thereto, to a penalty of ten percent (10%) of the amount of the unpaid tax.
(b) A penalty shall not be assessed on an additional tax assessment made by the Director of Finance or his delegate when a return has been filed in good faith and the tax paid thereon within the time prescribed by the Director of Finance or his delegate; 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.
(Ord. 05-38. Passed 10-3-05.)