(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 rate of one percent (1%) per month of the unpaid balance.
(b) Penalties. In addition to interest as provided in subsection (a) hereof, penalties based on the unpaid tax are hereby imposed as follows:
(1) For failure to pay City income tax due, other than City income tax withheld, ten percent (10%) per annum of the unpaid tax; provided that a penalty shall not be assessed on an additional tax assessment made pursuant to this Chapter when a City income tax return has been filed in good faith and the tax paid thereon within the time prescribed herein; and provided further, that no penalty shall be assessed on any additional tax assessment resulting from a final determination of federal income tax liability, provided that an amended City income tax return is filed and the additional City income tax paid within three months after the final determination of the federal income tax liability, subject to the limitation on the period for assessment of City income tax and claims for refund thereof prescribed by Ohio Revised Code Section 718.12, including any amendments or successor provisions thereto.
(2) For failure to remit City income tax withheld for employees, fifteen percent (15%) of the unpaid withholding.
(c) Upon recommendation of the Administrator, the Board of Review may abate any penalty imposed by this section, or upon an appeal from the refusal of the Administrator to recommend abatement of penalty, the Board may nevertheless abate such penalty.
(Ord. 147(04-05). Passed 2-17-05.)