§ 11-4-404. INTEREST AND PENALTY FOR LATE PAYMENT.

(a)

Required. If a person responsible for collecting and remitting the transient occupancy tax does not remit to the Director the tax within the time and in the amount required in this subtitle, the Director of Budget and Finance shall add to the tax:

(1)

1% interest for each month or fraction of a month after the first month that any amount of taxes is overdue; and

(2)

A 10% penalty for any amount of taxes overdue by 1 month.

(b)

In addition to accrued interest. The penalty imposed under this section is in addition to any accrued interest.

(1988 Code, § 33-267) (Bill No. 87, 1990, § 2, 8-13-1990; Bill No. 49-96, § 20, 7-1-1996; Bill No. 33-03, § 2, 7-1-2004)