§ 11-8. Interest and penalties.

Whenever any person required to pay a surcharge hereunder fails to collect and/or remit to the Director of Finance the surcharge imposed by this subtitle within the time limited therefor, that person shall be assessed by the Director of Finance:

(1) the amount of the surcharge due;

(2) interest at the rate of 1% per month or any fraction thereof; and

(3) a penalty of 10% of the surcharge due.