36-2023 - Amend Tax Code re: HB 33

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DocuSign Envelope ID: D733A3F0-EC57-49D6-A4C4-7A15E4E44C25 Section 14. That Section 128.10 Penalty, Interest, Fees and Charges, of the Lakewood Codified Ordinances, currently reading as follows: 128.10 PENALTY, INTEREST, FEES, AND CHARGES. (a) As used in this section: (4) With respect to returns other than estimated income tax returns, the Municipality shall impose a monthly penalty of twenty-five dollars for each failure to timely file each return, regardless of the liability shown thereon for each month, or any fraction thereof, during which the return remains unfiled regardless of the liability shown thereon. The penalty shall not exceed a total of one hundred fifty dollars in assessed penalty for each failure to timely file a return. (d) With respect to income taxes, estimated income taxes, withholding taxes, and returns, the Municipality shall not refund or credit any penalty, amount of interest, charges, or additional fees that were properly imposed or collected before January 1, 2016. is hereby repealed. Section 15. That new section 128.10 Penalty, Interest, Fees and Charges, of the Lakewood Codified Ordinances is hereby enacted to read as follows: 128.10 PENALTY, INTEREST, FEES, AND CHARGES. (a) As used in this section: (4) With respect to returns other than estimated income tax returns, the Municipality shall impose a monthly penalty of twenty-five dollars for each failure to timely file each return, regardless of the liability shown thereon , . except that the Municipality shall abate or refund the penalty assessed on a taxpayer's first failure to timely file a return after the taxpayer files the return. (d) With respect to income taxes, estimated income taxes, withholding taxes, and returns, the Municipality shall not refund or credit any penalty, amount of interest, charges, or additional fees that were properly imposed or collected before January 1, 2016. Section 16. It is found and determined that all formal actions of this Council concerning and relating to the passage of this ordinance were adopted in an open meeting of this Council, and that all such deliberations of this Council and of any of its committees that resulted in such formal action were in meetings open to the public in compliance with all legal requirements. Section 17. This ordinance is hereby declared to be an emergency measure necessary for the immediate preservation of the public peace, property, health, safety and welfare in the City and for the usual daily operation of the City for the reasons set forth and defined in the preamble to this ordinance, and provided it receives the affirmative vote of at least five members of Council, this ordinance shall take effect and be in force immediately upon its adoption by the Council and approval by the Mayor; otherwise it shall take effect and be in force after the earliest period allowed by law.