(a) All taxes imposed and all moneys withheld or required to be withheld by employers under this chapter and remaining unpaid after they become due shall bear interest at the rate of one-half of one percent per month or fraction thereof.
(b) In addition to interest as provided in subsection (a) hereof, penalties based on the unpaid tax are hereby imposed as follows
(1) One and one-half percent per month or fraction thereof for the failure to pay taxes due, other than taxes withheld; and
(2) Five percent per month or fraction thereof for the failure to remit taxes withheld from employees.
(c) 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 has been paid thereon within the time prescribed by the Administrator. In the absence of fraud, neither penalty nor interest shall be assessed on any additional tax assessment resulting from a Federal audit, provided that an amended return is filed and the additional tax is paid within three months after final determination of the Federal tax liability.
(d) Upon the recommendation of the Administrator, the Board of Review may abate any penalty or interest, or both, or on an appeal from the refusal of the Administrator to recommend abatement of penalty and/or interest, the Board may nevertheless abate the penalty or interest, or both.
(Ord. 11-79. Passed 5-14-79.)