(a) All taxes imposed and monies 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 1.5% per month or fraction thereof.
(b) In addition to interest as provided in division (a) of this section, penalties are hereby imposed as follows based on the tax remaining unpaid after it becomes due:
(1) For failure to pay taxes due, other than taxes withheld; 5% per month.
(2) For failure to remit taxes withheld or required to be withheld from employees; 5% per month.
(3) Where the taxpayer has failed to file a return by the due date or by the date resulting from extension, twenty-five dollars ($25.00).
(4) No penalty or interest shall be charged against a taxpayer for the late payment or nonpayment of estimated tax liability if the taxpayer is an individual who resides in the municipal corporation but was not domiciled there on the first day of January of the current calendar year.
(c) Exceptions. A penalty shall not be assessed on an additional tax assessment made by the Tax Administrator when a return has been filed in good faith and the tax paid thereon within the time prescribed by the Tax Administrator; and provided further that, 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 the final determination of the Federal tax liability.
(d) Upon recommendation of the Tax Administrator, the Board of Review may abate penalty or interest, or both, or upon an appeal from the refusal of the Tax Administrator to recommend abatement of penalty and interest concerning an item of income or expense, the Board may nevertheless abate penalty or interest, or both.
(e) In addition to any other interest or penalties provided herein, there shall be a penalty of twenty- five dollars ($25.00) imposed for the failure to file an annual return when due.
(Ord. 2004-52. Passed 12-20-04.)