(a) 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 become due, shall bear interest at the rate of one and one-half percent (1.5%) 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) For failure to pay taxes due, other than taxes withheld, one and one-half percent (1.5%) per month or fraction thereof.
(2) For failure to remit taxes withheld from employees, three percent (3%) per month or fraction thereof.
(c) A penalty shall not be assessed on an additional tax assessment made by the Income Tax Supervisor when a return has been filed in good faith and the tax paid thereon within the time prescribed by the Income Tax Supervisor. 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 three months after final determination of the federal tax liability.
(d) Upon recommendation of the Income Tax Supervisor, the Board of Review may abate penalty or interest, or both. Upon an appeal from the refusal of the Income Tax Supervisor to recommend abatement of penalty and interest, or both, the Board may nevertheless abate penalty or interest.
(Ord. 4173. Passed 12-9-03.)