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175.1503 EXCEPTIONS. <br />Ua A penaity shail not be assessed on an additional tax assessment made <br />by the Administrator when a return has been filed in good faith and the tax paid <br />thereon within the time prescribed by the Administrator and, in the absence of <br />fraud, neither penalty nor interest shall be assessed on any additional tax <br />assessment against the taxpayer by the Administrator resulting from a Federal <br />audit, providing an amended return is filed and the additional tax is paid within <br />three months after a final determination of the Federal Tax liability. (Ord. 1021. <br />Passed 8-21-67). <br />,(b) No penalties or interest shall be assessed on estimated payments if <br />the taxpayer has remitted an amount equal to one hundred percent of the <br />previous year's tax liability, provided that the previous year reflected a twelve- <br />month period, or if 90% of the actual liability has been received. <br />X:\Mayfield\MFV Legis\2005 Legis\175.1503.doc