(a) The tax imposed by this article, if not paid when due, shall bear interest at the rate of at ten percent (10%) per annum from the due date of the return until paid. The Director of Finance may charge an interest rate equal to the adjusted rate charged by commercial banks to large business, in the manner described in W. Va. Code §11-10-17a.
(b) If any taxpayer fails to make the return or any quarterly installment required by this article, or make his return but fails to remit, in whole or in part, the proper amount of tax, there shall be added to the amount of tax unpaid, from the date such tax should have been paid, a penalty in the amount of five percent (5%) of the tax for the first month, or fraction thereof, of delinquency, and one percent (1%) of the tax for each succeeding month, or fraction thereof, of delinquency, provided, that if such failure is due to reasonable cause, the Director of Finance may waive, with final approval from the City Manager, in whole or in part, these penalties.
(c) If the failure to pay is due to fraud or intent to evade any such tax there shall be
added an additional penalty of twenty-five percent (25%) of the tax owed, exclusive of penalties.
(d) Interest and penalties may be collected in the same manner as the tax imposed by
this article.
(Ord. 1-7-03.)