(a) Interest shall accrue on all unpaid taxes as follows:
(1) Interest on Annual Returns. All taxes imposed, other than taxes withheld or required to be withheld by an employer, under the provisions of this chapter and remaining unpaid after they become due shall bear interest at the rate of one and one-half percent per month or fraction thereof.
(2) Interest on Employer Withholding. All moneys withheld, or required to be withheld by an employer under the provisions of this chapter and remaining unpaid after they become due, shall bear interest at the rate of one-half of one percent per month or fraction thereof.
(b) In addition to interest as provided in subsection (a) hereof, penalties based on the unpaid tax are hereby imposed as follows:
(1) Late Filing Fine for Failure to File. Whoever fails to file a City tax return for any tax year shall be fined twenty-five dollars ($25.00) per tax year, which shall be paid by the person liable for filing the tax return.
(Ord.1986-132. Passed 12-1-86.)
(2) Penalty on Annual Returns. For failure to pay taxes due, other than taxes withheld, one and one-half percent per month or fraction thereof.
(3) Penalty on Employer Withholding. For failure to remit taxes withheld from employees, three percent per month or fraction thereof. (Ord. 1986-132. Passed 12-1-86.)
(c) Exceptions. A penalty shall not be assessed on an additional tax assessment made by the Administrator when a return has been filed in good faith and the tax has been paid thereon within the time prescribed by the Administrator. In the absence of fraud, neither penalty nor interest shall be assessed on any additional tax assessment resulting from a Federal audit, provided that an amended return is filed and the additional tax is paid within three months after final determination of the Federal tax liability.
(d) Abatement. Upon recommendation of the Administrator, the Board of Review may abate penalty or interest, or both, or upon an appeal from the refusal of the Administrator to recommend abatement of penalty and interest, the Board may nevertheless abate penalty or interest, or both.
(Ord.1970-67. Passed 12-7-70; Ord. 2001-010. Passed 2-5-01; Ord. 2004-167. Passed 2-28- 04.)