§ 11-1317 Penalties and interest.
AC § 11-1317
a.
(1)Any person failing to pay a tax payable under section 11-1302 when due shall be subject to a penalty of fifty per centum of the amount of tax due, but the commissioner of finance, if satisfied that the delay was excusable, may remit all or any part of such penalty. Such penalty shall be paid and disposed of in the same manner as other revenues under this chapter. Unpaid penalties may be enforced in the same manner as the tax imposed by section 11-1302.
(2)Any person failing to pay a tax payable under section 11-1302.1 when due shall be subject to a penalty of three hundred per centum of the amount of tax due, but the commissioner of finance, if satisfied that the delay was excusable, may remit all or any part of such penalty. Such penalty shall be paid and disposed of in the same manner as other revenues from the tax imposed under section 11-1302.1. Unpaid penalties may be enforced in the same manner as the tax imposed by section 11-1302.1. b.
(3)Federal short-term rate. For purposes of this subdivision: (A) The federal short-term rate for any month shall be the federal short-term rate determined by the United States secretary of the treasury during such month in accordance with subsection (d) of section twelve hundred seventy-four of the internal revenue code for use in connection with section six thousand six hundred twenty-one of the internal revenue code. Any such rate shall be rounded to the nearest full percent (or, if a multiple of one-half of one percent, such rate shall be increased to the next highest full percent). (B) Period during which rate applies.
(i)In general. Except as provided in clause (ii) of this subparagraph, the federal short-term rate for the first month in each calendar quarter shall apply during the first calendar quarter beginning after such month.
(ii)Special rule for the month of September, nineteen hundred eighty-nine. The federal short-term rate for the month of April, nineteen hundred eighty-nine shall apply with respect to setting the rate of interest for the month of September, nineteen hundred eighty-nine.
(4)Publication of interest rate. The commissioner of finance shall cause to be published in the city record, and give other appropriate general notice of, the interest rate to be set under this subdivision no later than twenty days preceding the first day of the calendar quarter during which such interest rate applies. The setting and publication of such interest rate shall not be included within paragraph (a) of subdivision five of section one thousand forty-one of the city charter relating to the definition of a rule. e. Cross-reference: For criminal penalties, see chapter forty of this title. (Am. L.L. 2017/145, 8/28/2017, eff. 6/1/2018) Editor's note: For related unconsolidated provisions, see Appendix A at L.L. 2017/145.
