(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 became due shall bear interest at the rate of one-half percent (1/2%) per month or fraction thereof. In addition to interest as provided in subsection (a) hereof, penalties for nonpayment of taxes, or failure to file a return when due and monies required to be withheld by employers under the provisions of this chapter are hereby imposed as follows:
(1) For failure to pay taxes due, other than taxes withheld, one percent (1%) of the amount of unpaid tax for each month, or fraction thereof.
(2) For failure to file a Village income tax return when due, a late filing fee of $5.00 per month or fraction thereof.
(3) For failure to remit tax withheld or required to be withheld from employees, two per cent (2%) of the tax withheld or required to be withheld per month or any fraction thereof.
(4) Provided, however, that penalties shall not be assessed on any 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, provided an amended return is filed and the additional tax is paid within three months after final determination of federal tax liability.
(Ord. 23-2003. Passed 11-18-03.)