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In addition to interest as provided in Section 193.42, penalties based on the unpaid tax are hereby imposed as follows:
(a) For failure to pay taxes due other than taxes withheld, ten percent per year or fraction thereof.
(b) For failure to remit taxes withheld from employees, ten percent per month or fraction thereof.
(c) For failure to file any return required under Section 193.30, ten percent of the taxes due, but in any event a minimum penalty of twenty-five dollars ($25.00).
(d) For the underpayment of estimated taxes as required by Sections 193.37, 193.38, 193.39 and 193.40, ten percent per year, figured at 0.833 percent per month for each month or fraction thereof that payment is delinquent. No penalty shall be assessed if the aggregate installment payments of estimated taxes are at least eighty percent of the actual tax due, with twenty-five percent of the eighty percent paid each quarter or with an amount equal to the tax liability of the previous year paid on a quarterly basis. The penalty for underpaying estimated taxes is figured separately for each installment.
(Ord. 1983-48. Passed 11-28-83; Ord. 2004-36. Passed 12-13-04.)