(a) Interest. All taxes imposed and all moneys withheld, or required to be 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 twelve percent (12%) per annum.
(b) Penalties. In addition to interest as provided in subsection (a) hereof, there is hereby imposed a penalty of one-half of one percent (.5%) of the amount of the unpaid tax for each month or fraction of month for the first six months of nonpayment or twenty-five dollars ($25.00) whichever is the greater.
(c) Abatement. The Commissioner of Taxation may waive or remit any such interest or penalties as he deems proper.
(Ord. 01-10037. Passed 10-10-01.)