(a) All taxes imposed and moneys withheld or required to be withheld by employers, and all installments of estimated taxes required to be paid under this chapter, and remaining unpaid after they become due, shall bear interest at the rate of ten percent per annum.
(b) In addition to interest as provided in division (a), penalties for failure to pay taxes and to withhold and remit taxes pursuant to this chapter are hereby imposed as follows:
(1) For failure to pay taxes or estimated taxes due, other than taxes withheld, ten percent per annum, but not less than $25;
(2) For failure to remit taxes withheld from employees, ten percent per month or fraction thereof, but the accumulated penalty shall not exceed 50 percent upon any unpaid amount and shall not be less than $25.
(c) 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. Further, in the absence of fraud, neither penalty nor interest shall be assessed on any additional tax assessment resulting from a federal audit, provided that an amended return is filed and the additional tax is paid within three months after final determination of the federal tax liability.
(d) Upon an appeal from the refusal of the Tax Commissioner to recommend abatement of penalty and interest, the Board of Review may abate such penalty or interest, or both.
(Ord. 1455, passed 5-17-1967; Am. Ord. 2002-55, passed 12-17-2002) Penalty, see § 880.99