(A) The annual tax return of tangible personal property, machinery and tools and merchant’s capital and business equipment in the county shall be filed on forms as prescribed by the Commissioner of the Revenue, not later than May 1 of each year.
(B) Failure to file as required the return referred to in division (A) of this section shall, if such return reports or should report machinery and tools or merchant’s capital and business equipment, result in a penalty of 10% of the tax assessable on such return or $10, whichever is greater; provided, however, that the penalty shall in no case exceed the amount of the tax assessable. Such penalty for failure to file a return, when so assessed, shall become a part of the tax.
(C) The Commissioner of the Revenue shall waive the penalty provided for herein if the failure to file the return was in no way the fault of the taxpayer or was the fault of the Commissioner of the Revenue or the Treasurer as the case may be.
(Ord. passed 11-6-2000)