(A) All taxes imposed and monies withheld or required to be withheld by employers under the provision of this chapter and remaining unpaid after they become due shall bear interest at a rate of 12% per annum.
(B) In addition to interest as provided in division (A) above, penalties based on the unpaid tax are hereby imposed as follows. The taxpayer upon whom said taxes are imposed and any employer required by this chapter to deduct, withhold and pay taxes imposed by this chapter shall be liable in addition hereto to penalty of 5% of the amount of the unpaid tax for each month after the tax becomes due, up to a maximum of 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; 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 final determinations of the federal tax liability.
(D) Upon recommendation of the Tax Commissioner, the Board of Review may abate penalty or interest, or both, or upon an appeal from the refusal of the Tax Commissioner to recommend abatement of penalty and interest, the Board of Review may nevertheless abate penalty or interest or both.
(Ord. 04-05-01, passed 6-29-04)