(a) All taxes imposed by this chapter, including taxes withheld from wages by an employer and remaining unpaid after they have become due, shall bear interest on the amount of the unpaid tax at the rate of one percent (1%) per month or fraction of a month thereof and the taxpayers upon whom such taxes are imposed, and the employers required by this chapter to deduct, withhold and pay taxes imposed by this chapter, shall be liable, in addition thereto, to a penalty of ten percent (10%) of the amount of the unpaid tax for each month or fraction of a month thereof for the first six months of nonpayment, or fifty dollars ($50.00), whichever is greater. Upon recommendation of the Village of North Kingsville, the Board of Review may abate interest or penalties, or both, and upon appeal from the refusal of the Municipality to so recommend, the Board may nevertheless abate interest or penalties, or both.
(b) A penalty of fifty dollars ($50.00) shall be assessed on any taxpayer who fails to file the annual tax due as required at Section 181.05 regardless of whether or not a tax liability remains due.
(c) No penalty shall be assessed on additional taxes found on an audit to be due when a return was timely filed in good faith and the tax paid thereon within fifteen (15) days from the date the taxpayer was notified of such finding.
(d) In the absence of fraud neither penalty nor interest shall be assessed on any additional taxes resulting from a federal audit for federal income tax purposes provided an amended return is filed and the additional tax paid within three (3) months after final determination of the federal tax liability. (Ord. O-04-038. Passed 7-6-04.)