§ 46-2. Interest and penalties for unpaid fees.

(a) Imposition.

(1) Except as where otherwise provided in this article, any person, firm, corporation, or other legal entity who, within 30 days from when it becomes due and payable, fails to pay any license or permit fee or any registration tax imposed by any provision of this article:

(i) is liable for interest on the amount of unpaid fee or tax at the rate of 1% per month or any fraction of a month during which the fee or tax remains unpaid; and

(ii) is also liable for a penalty of 10% of the unpaid fee or tax.

(2) This interest and penalty shall be collected as a part of the fee or tax itself.

(b) Waivers.

For good and sufficient cause shown, the Director of Finance may waive interest and penalty in connection with the payment of any fee or tax imposed by any provision of this article.