(a) All taxes imposed by this chapter, including taxes 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 one percent (1%) per month, or twenty-five dollars ($25.00), whichever is greater. In addition to interest as provided in subsection (a) hereof, penalties are hereby imposed as follows:
A. The taxpayer has failed to timely comply with the provisions of Section 183.07 setting forth the requirements for the filing of declarations and remitting estimated tax payments; or
B. The taxpayer has failed to file a final return and pay the total tax due on or before the end of the month following the end of the taxpayer's calendar or fiscal year; or
C. The taxpayer has failed to timely remit one hundred percent (100%) of the taxpayer's actual tax liability for the previous tax year; or
D. The taxpayer has failed to timely remit ninety percent (90%) of the taxpayer's actual tax liability for the current tax year.
(2) For failure to file complete tax returns, informational reports, or any filing as required by this chapter on a timely basis, $25.00 for the first instance and $50.00 for each subsequent instance.
(3) Where an employer required by Section 183.06 to withhold the tax fails to withhold and/or remit such tax to the Tax Administrator, a penalty of $25.00 for each period of delinquency shall be assessed.
(4) A penalty shall not be assessed on any additional tax assessment made by the Tax Administrator when a return has been filed in good faith and the tax paid thereon within the time prescribed, 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 the final determination of the federal tax liability.
(b) (EDITOR’S NOTE: Former subsection (b) was repealed by Ordinance 2006-50, passed June 27, 2006.)