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(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 year, and the taxpayers upon whom the taxes are imposed by this chapter shall be liable, in addition thereto, to a penalty of ten percent (10%) per year of the amount of the unpaid tax. (Ord. C13-82. Passed 3-1-82.)
(b) A penalty shall not be assessed on an additional tax assessment made by the Director of Finance when a return has been filed in good faith and the tax paid thereon within the time prescribed by the Director; provided, 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. C7-71. Passed 3-1-71.)
(c) All taxes deducted by an employer or required to be deducted and withheld by an employer and remaining unpaid after they become due pursuant to Section 191.07(a)(1), (2) and (3), shall bear interest on the amount of such unpaid taxes at the rate of eighteen percent (18%) per annum and in addition, a penalty of ten percent (10%) per year to the amount of the unpaid taxes.
(Ord. C13-82. Passed 3-1-82. Ord. C27-05. Passed 4-4-05.)