(A) All taxes imposed and monies withheld or required to be withheld by employers, under the provisions of this chapter, remaining unpaid after they become due shall bear interest at the rate of 1% per month or fraction thereof.
(1) Exceptions. A taxpayer who files timely but whose return contains a mathematical error, shall be granted a 30-day extension, starting on the date of the initial Tax Department written notice correcting the error and informing of additional tax due. Should the taxpayer pay any additional tax due within the 30-day period, interest shall be assessed on the balance.
(B) In addition to interest as provided in division (A) of this section, penalties for failure to pay taxes, file a return or to withhold and/or remit taxes pursuant to the provisions of this chapter are imposed as follows:
(1) A taxpayer who fails to pay 70% of the total tax liability by the required due date as described in § 94A.12 of this chapter shall be assessed a penalty amount of $25.
(2) A taxpayer who fails to file a return or an extension on or before the filing date shall be assessed a penalty of $25.
(Ord. 66-1982, passed 12-15-82; Am. Ord. 65-1990, passed 10-3-90)
(3) Employers who fail to withhold and/or file a withholding return as required in § 94A.11 of this chapter shall be assessed a penalty amount of $25. Any employer who fails to remit to the Tax Commissioner the taxes withheld or to be withheld from employees by the required due date as described in § 94A.11 of this chapter shall be assessed a penalty of 2.5% per month on the outstanding balance.
(C) 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 3 months after final determination of the Federal tax liability.
(Am. Ord. 92-2000, passed 12-6-00; Am. Ord. 73-2002, passed 11-20-02; Am. Ord. 48-2003, passed 12-17-03)