§ 2-112. Interest assessed under Code.

Latest version.

Unless specifically provided otherwise, all interest assessed under the provisions of this Code shall be at an annual rate of twelve (12) percent per annum. Where penalties are specified, such penalties shall be assessed, in addition to specified interest charges, at the rate of ten (10) percent of the amount due for failure to file, negligence or disregard of rules or regulations; an additional penalty of twenty-five (25) percent of the amount due shall be assessed for any fraud or intent to evade.

(Code 1976, § 1-1007(b))

                    
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