(a) All taxes due from taxpayers and moneys withheld by employers under the provisions of this chapter and remaining unpaid after they have become due shall bear interest, in addition to the amount of the unpaid tax or withholdings, at the rate of one percent (1%) per month or part thereof.
(b) In addition to interest as provided in subsection (a) hereof, penalties for nonpayment of taxes due from taxpayers, moneys required to be withheld by employers under the provisions of this chapter, and for failure to timely file tax returns are hereby imposed as follows:
(1) In the case of taxpayers upon whom such taxes are imposed, ten percent (10%) of the amount of the unpaid tax if paid after the same has become due; provided that penalty shall not be assessed on an additional tax assessment made by the Commissioner of Taxation when a return has been filed in good faith and the tax paid thereon within the time prescribed herein; and provided further, that 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.
(2) A. In the case of employers required to withhold taxes from employees under the provisions of this chapter, a penalty at the rate of:
Penalty (Percent) | Tax Payment Relative to Due Date |
10% | Within 30 days |
15% | Within 60 days |
20% | Within 90 days |
25% | more than 90 days |
B. A penalty is imposed on employers, required to remit withheld taxes by electronic transfer who fail to make remittances by means of electronic transfer as required under subsection 195.06(e) and (f), in the amount of 10 percent of the sum which the employer was required to remit by electronic transfer.
(Ord. 95-152. Passed 5-2-95)
(3) In the case of taxpayers who fail to file tax returns when due as required by this chapter, the following penalties:
Penalty | Complete Tax Return is Filed |
$25.00 | Not more than 30 days late |
$50.00 | More than 30 but not more than 120 days late |
$100.00 | More than 120 days late |
(4) Individuals not subject to the tax pursuant to this chapter for a taxable year, not a resident of the City for an entire taxable year, under eighteen years of age for the entire taxable year, or a member of the armed forces of the United States for the entire taxable year shall not be subject to the penalties imposed by this section for each taxable year in which one of the conditions stated in this subsection (b)(4) applies. Filings shall be deemed to be timely made if postmarked by the due date.
(Ord. 89-676. Passed 12-19-89.)