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ORDINANCE N0. 87- 27 <br />INTRODUCED BY: Mayor Carmen & Council as a Whole <br />AN ORDINANCE AMENDING SECTIONS 175.1501 AND <br />175.1502 OF THE CODIFIED ORDINANCES OF MAYFIELD <br />VILLAGE, OHIO, PERTAINING TO IIVTEREST AND <br />PENALTIES ON THE MUNICIPAL INCOME TAX, REPEALING <br />ALL ORDINANCES INCONSISTENT HEREWITH AND DECLARING <br />AN EMERGENCY. <br />BE IT ORDAINED BY THE COUNCIL OF MAYFIELD VILLAGE, OHIO, THAT: <br />Section 1. Sections 175.1501 and 175.1502 of the Codified <br />Ordinances of Mayfield Village, Ohio, are hereby amended to read as <br />follows: (Deleted material appears like th-ie and new material <br />appears like THIS) <br />Chapter 175 <br />Income Tax <br />* ? * <br />175a1501 Interest on Unpaid Tax. <br />All taxes imposed and all moneys withheld or required to <br />be withheld by employers and all installments of estimated <br />taxes required to be paid under the provisions of this chapter <br />and remaining unpaid after they become due, shall bear interest <br />at the rate of FOURTEEN percent per annum. <br />175.1502 Penalties on Unpaid Tax. <br />In addition to interest as provided in Section 175.1501, <br />penalties based on the unpaid tax or installments of estimated <br />tax are hereby imposed as follows: <br />(a) For failure to pay taxes or estimated taxes due, other <br />than taxes withheld: ten percent per annum, bu.t-flo-t <br />OR FRACTION THEREOF, <br />WITH A MINIMUM PENALTY AS PROVIDED IN SUBSECTION (c) <br />HEREINBELOW. <br />(b) For failure to remit taxes withheld from employeesa <br />ten percent per month or fraction thereof, but the <br />accumulated penalty shall not exceed fifty percent <br />upon any unpaid amount <br />WITH A MINIMUM PENALTY AS <br />PROVIDED IN SUBSECTION (C) F3EREINBELOW. (c) FOR FAII;URE OF ANY PERSON, CORPORATION, EMPLOYERp <br />OR EMPLOYEE WHO WAS DELINOUENT IN THE PAYMENT OF <br />TAXES OR TAXES WITHHELD FROM EMPLOYEES THE FOLLOWING <br />MINIMUM PENALTY SHALL BE ASSESSED WHEN ASSESSING <br />PENALTIES PURSUANT TO SUBSECTIONS (a) AND (b) HEREIN- <br />AB OV E t <br />(1) FOR TAXES OTHER THAN ESTIMATED TAXES: