§ 40-197. Penalty and interest for failure to remit taxes when due.

If any person whose duty it is to do so shall fail or refuse to remit to the commissioner of revenue the tax required to be collected under this article within the time and in the amount specified in this article, there shall be added to such tax by the commissioner of revenue a penalty in the amount of ten (10) percent for the first month the taxes are past due, and five (5) percent for each month thereafter, up to a maximum of twenty-five (25) percent in the aggregate, with a minimum penalty of ten dollars ($10.00), but in no event shall the penalty exceed the amount of the tax assessable. In addition, interest at the rate of ten (10) percent per annum shall be computed and collected upon the taxes and penalty beginning from the date such taxes were due and payable.

(Ord. No. 4097-90; Ord. No. 5134-98, § 1; Ord. No. 6162-05; Ord. No. 6309-06, § 1)

(Ord. No. 4097-90; Ord. No. 5134-98, § 1; Ord. No. 6162-05; Ord. No. 6309-06, § 1)