What is the penalty for late or non-payment of taxes, and how do I calculate it?
The penalty rate is for late payment of taxes is 5% per month with a maximum rate of 25% of the taxable amount. The interest on delinquent accounts is 1.5% on the total outstanding balance (tax + penalty) with no cap. In addition to accruing penalties described above, any person carrying on any business without first obtaining a business license is subject to criminal prosecution, (Municipal Code Section 3.1.
