(A) Any seller who fails to remit any portion of any tax imposed by this subchapter within the time required must pay a penalty of 10% of the amount of the tax, in addition to the amount of the tax.
(B) If any seller fails to remit any delinquent remittance on or before a period of 60 days following the date on which the remittance first became delinquent, the seller must pay a second delinquency penalty of 10% of the amount of the tax in addition to the amount of the tax and the penalty first imposed.
(C) If the Director determines that the non-payment of any remittance due under this subchapter is due to fraud, a penalty of 25% of the amount of the tax will be added thereto in addition to the penalties stated in divisions (A) and (B) above.
(D) In addition to the penalties imposed, any seller who fails to remit any tax imposed by this subchapter must pay interest at the rate of 1% per month or fraction thereof on the amount of the tax, exclusive of penalties, from the date on which the remittance first became delinquent until paid.
(E) Every penalty imposed, and any interest as accrued under the provisions of this section, becomes a part of the tax required to be paid.
(F) All sums collected pursuant to the penalty provisions in divisions (A) and (C) above will be distributed to the city’s General Fund.
(G) Penalties for certain late tax payments may be waived or reduced pursuant to policies and processes adopted by the Finance Department. However, the Finance Department is not required to create a penalty waiver or reduction policy. If the Finance Department does not create a policy for waivers or reductions, no waivers or reductions are allowed.
(Prior Code, § 2.30.060) (Ord. 423, passed 11-3-2014)