(A) Interest. All taxes imposed and all moneys withheld or required to be withheld by employers under the provisions of this chapter and remaining unpaid after they become due shall bear interest at the minimum rate permitted under R.C. § 718.27 per annum, or fraction thereof.
(B) Penalties. In addition to interest as provided in division (A) of this section, penalties based on the unpaid tax are hereby imposed as follows:
(1) For failure to pay taxes due, other than taxes withheld, the penalty permitted by R.C. § 718.27(C)(2)(a), as amended from time to time.
(2) For failure to remit taxes withheld from employees, the penalty permitted by R.C. § 718.27(C)(2)(b), as amended from time to time.
(C) Exceptions. A penalty shall not be assessed on an additional tax assessment made by the tax commissioner when a return has been filed in good faith and the tax paid thereon within the time prescribed by the tax commissioner and 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 a final determination of the federal tax liability.
(D) Abatement of penalty, interest, or both. Upon recommendation of the tax commissioner or upon appeal from the refusal of the tax commissioner to so recommend, the Board of Review may abate penalty or interest, or both.
(E) In addition to the foregoing penalties, a penalty provided in R.C. § 718.27(C), as amended from time to time, against all taxpayers who fail to file a return within the time period in this chapter.
(F) By the thirty-first day of October of each year the village shall publish the rate described in division (A) of this section applicable to the next succeeding calendar year.
(Ord. 07-15, passed 12-14-15)