(a) All taxes imposed by this chapter and remaining unpaid after they become due shall bear interest, in addition to the unpaid tax at the rate of 0.75% per month.
(b) In addition to the 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 the taxes due, other than taxes withheld, 1% per month or 10% of the amount of the unpaid tax, whichever is greater. Except in the case of fraud, the penalty cannot exceed one-half the tax due.
(2) For failure to remit taxes withheld from employees:
A. 10% if within 30 days;
B. 20% if more than 30 days late, less than 60 days late;
C. 25% if late by 60 days or more.
(3) A. For failure to file tax returns, informational reports, or any filing as required by this chapter:
1. $25.00 - Not more than 120 days late;
2. $50.00 - Late by 120 days or more.
B. Filings shall be deemed to be timely filed if postmarked by the due date. Postage meter imprints are not considered to be postmarked date.
(c) A penalty shall not be assessed on any additional tax assessment made by the Income Tax Department when a return has been filed in good faith and the tax paid thereon within the time prescribed by the Income Tax Department, and provided further that in the absence of fraud, neither penalty not 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.
(d) A fee as determined by the City Council will be charged for each check returned to the Income Tax Department by a financial institution as unpaid, for any reason whatsoever.
(e) Upon recommendation of the Finance Director/delegate, the Board of Appeals may rebate penalty or interest, or both, or upon appeal from the refusal of the Finance Director/delegate to recommend abatement of penalty and interest concerning an item of income or expense, the Board may nevertheless abate penalty or interest or both.
(Ord. 5480. Passed 11-21-00; Ord. 5744. Passed 11-18-03; Ord. 6176. Passed 2-16-10.)