Title 08 Taxation and Revenue
Chapter 08.04 Gambling Tax
Section 08.04.080 Interest and Penalties
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When any payment is not received by the date specified in SMC 8.04.040, or the payment is not of the full amount due, there is added a penalty as follows:
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One to thirty days late: Five percent of tax with a minimum penalty of one dollar;
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Thirty-one to sixty days late: Ten percent of tax with a minimum penalty of two dollars; or
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Over sixty days late: Twenty percent of tax with a minimum penalty of three dollars; or
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Fifty percent of the total amount due if the department determines that all or a part of the deficiency assessed resulted from an intent by the taxpayer to evade the tax.
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In addition to the penalty provided in subsection (A) of this section, interest is charged at the rate of one percent of the amount of the tax for every thirty-day period or fraction from due date to date of payment.
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Interest and penalties are computed on the amount of tax unpaid at the time.
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As a condition of granting any taxpayer an extension of time, the chief financial officer charges interest at the rate of one percent of the tax due from the due date.
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The City pays interest on an amount overpaid at the rate of three percent per annum.
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The chief financial officer may waive any of the penalties provided in this section, but not interest, in a particular case when he finds that the taxpayer’s failure to comply was due to serious circumstances beyond the taxpayer’s control.
Date Passed: Monday, October 13, 2014
Effective Date: Friday, November 21, 2014
ORD C35159 Section 1
