(A) The city, or its authorized agent, may grant any business entity an extension of not more than six (6) months, unless a longer extension has been granted by the Internal Revenue Service or is agreed to by the city and the business entity, for filing its return, if the business entity, on or before the date prescribed for payment of the occupational license tax, requests the extension and pays the amount properly estimated as its tax.
(B) If the time for filing a return is extended, the business shall pay, as part of the tax, an amount equal to twelve percent (12%) per annum simple interest on the tax shown due on the return, but not been previously paid, from the time the tax was due until the return is actually filed and the tax paid to the city. A fraction of a month is counted as an entire month.
(C) The penalty assessed a taxpayer under § 115.99 shall not be assessed on the difference between the tax due and payment made with a properly filed "Application for Extension of Time to File Net Profits License Tax Return" under division (A) if the properly estimated tax is seventy-five percent (75%) or greater than the tax due.
(Ord. 0-2008-002, passed 1-14-08; Am. Ord. 0-2010-026, passed 11-8-10; Am. Ord. 0-2011-004, passed 1-26-11) Penalty, see § 115.99