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175.1501 INTEREST ON UNPAID TAX.
All taxes imposed and all moneys withheld or required to be withheld by employers and all installments of estimated taxes required to be paid under the provisions of this chapter and remaining unpaid after they become due, shall bear interest at the rate of fourteen percent (14%) per annum.
(Ord. 87-27. Passed 9-21-87.)
175.1502 PENALTIES ON UNPAID TAX.
In addition to interest as provided in Section 175.1501, penalties based on the unpaid tax or installments of estimated tax are hereby imposed as follows:
(a) For failure to pay taxes or estimated taxes due, other than taxes withheld: ten percent (10%) per annum, or fraction thereof, with a minimum penalty as provided in subsection (c) hereof.
(b) For failure to remit taxes withheld from employees: ten percent (10%) per month or fraction thereof, but the accumulated penalty shall not exceed fifty percent (50%) upon any unpaid amount with a minimum penalty as provided in subsection (c) hereof.
(c) For failure of any person, corporation, employer, or employee who was delinquent in the payment of taxes or taxes withheld from employees the following minimum penalty shall be assessed when assessing penalties pursuant to subsections (a) and (b) hereof:
(1) For taxes other than estimated taxes:
A. Delinquent - first offense - twenty-five dollars ($25.00);
B. Delinquent - second offense - fifty dollars ($50.00);
C. Delinquent - third offense - one hundred dollars ($100.00).
(2) For purposes of this section, taxes are delinquent if they are not paid by the due dates established by the chapter. A tax payment that is delinquent is deemed to be a single offense for purposes of this section regardless of the number of years that the payment is delinquent. Each subsequent payment that is delinquent shall be a separate offense.
(Ord. 87-27. Passed 9-21 -87.)
175.1503 EXCEPTIONS.
(a) A penalty shall not be assessed on an additional tax assessment made by the Administrator when a return has been filed in good faith and the tax paid thereon within the time prescribed by the Administrator and, in the absence of fraud, neither penalty nor interest shall be assessed on any additional tax assessment against the taxpayer by the Administrator 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.
(b) No penalties or interest shall be assessed on estimated payments if the taxpayer has remitted an amount equal to one hundred percent of the previous year’s tax liability, provided that the previous year reflected a twelve-month period, or if 90% of the actual liability has been received.
(Ord. 2005-05. Passed 1-24-05.)
(Ord. 2005-05. Passed 1-24-05.)
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