(a) All taxes imposed by this Chapter and remaining unpaid after they become due shall bear interest, in addition to the amount of the unpaid tax, at the rate of eighteen percent (18%) per year and the Taxpayers upon whom such taxes are imposed by this Chapter, shall be liable, in addition thereto, to a penalty of ten percent (10%) of the amount of the unpaid tax.
(b) A penalty shall not be assessed on an additional tax assessment made by the Finance Director when a return has been filed in good faith and the tax paid thereon within the time prescribed by the Finance Director; and provided further, that in the absence of fraud, neither penalty nor interest shall be assessed on any additional tax assessment resulting from a federal audit, providing an amended return is filed and the additional tax is paid within three months after final determination of the federal tax liability.
(c) All taxes deducted by an Employer or required to be deducted and withheld by an Employer and remaining unpaid after they become due pursuant to Section 181.08(b)(1), (2) or (3) shall bear interest on the amount of such unpaid taxes at the rate of eighteen percent (18%) per year and in additional a penalty of ten percent (10%) of the amount of the unpaid taxes.
(d) A penalty shall not be assessed against a Taxpayer for the late payment or nonpayment of estimated tax liability in either of the following circumstances:
(1) The Taxpayer who is an individual who resides in the Municipality but who was not domiciled in the Municipality on the first day of January of the current Calendar Year.
(2) The Taxpayer has remitted to the Municipality an amount at least equal to one hundred percent of the Taxpayer’s tax liability for the preceding year as shown on the return filed by the Taxpayer for the preceding year, provided that the return filed for the preceding year reflected a twelve- month period and the Taxpayer filed a return for the preceding year.
(Ord. 28-01. Passed 4-16-01.)