(a) If any person shall fail or
refuse to remit the tax required to be collected and paid under this article within the
time and in the amount specified in this article, there shall be added to the tax owed, by
the treasurer, a penalty of ten percent (10%) or ten dollars ($10.00), whichever is
greater, for each such failure or refusal to remit taxes, and interest thereon at the rate
of ten percent (10%) per annum on the amount of the tax and penalty from the date upon
which the tax is due as provided in this article. No such penalty shall exceed the amount
of the tax owed.
(b) If any person shall fail or refuse to file a report required to be
filed by this article within the time specified, there shall be added to the tax owed, by
the commissioner of revenue, a penalty of ten percent (10%) or ten dollars ($10.00),
whichever is greater, for each such failure or refusal to file a report, which penalty
shall become part of the tax owed at the time the penalty is assessed. No such penalty
shall exceed the amount of the tax owed.