§ 53.07. Interest and Penalties for Late Payments and Late Returns.

Any seller of electricity, metered or bottled gas (manufactured or natural), fuel oil or water service failing to remit to the City on or before the twentieth (20th) day of each calendar month or quarter, as applicable, or if the twentieth day is either a legal holiday or is not a City business day, then on or before the first City business day, that is not also a legal holiday, following the twentieth day of the month or quarter, as applicable, all such taxes levied and collected during the preceding tax period shall be liable for interest on the unpaid amount of tax at the rate of one percent (1%) per month from the date the tax was due until paid. In addition, penalties will be assessed at a rate of 5 percent (5%) per month of the delinquent tax, not to exceed a total penalty of 25 percent (25%), except that in no event will the penalty for failure to file a return be less than $15. In the case of a fraudulent return or a willful intent to evade payment of the tax, the Seller making such fraudulent return or willfully attempting to evade payment of the tax, shall be liable for a specific penalty of 100 percent (100%) of the tax. Interest and penalties shall be computed on the net tax due after application of any overpayments. The interest and penalties shall accrue from the due date until the date such taxes are paid, provided however, that the Treasurer may settle or compromise any interest due pursuant to this section as is reasonable under the circumstances.

(Ord. No. 2013-9, § 2, 3-25-2013, Doc. #1303251204)