6.01.260 Penalties and interest.
If a business tax is not paid in full by March 31 of each year or, in the case of newly established businesses, within thirty days after commencement of business in the city, the tax collector shall:
A. Impose a twenty-five percent penalty on the estimated tax payment due and owing; and
B. Impose an additional twenty-five percent penalty per month of the estimated tax payment, or fraction thereof, that remains unpaid; and
C. Impose an interest charge at the rate of one and one-half percent per month, or fraction thereof, on the estimated amount of the tax from sixty days after the tax is delinquent.
In no case, however, shall the penalty exceed one hundred percent of the estimated business tax due or one thousand dollars, whichever is less. (Ord. 1921 NCS §2 (part), 1993.)