§ 17.1-4. Interest and civil penalties.

In the event that the tax levied and imposed under this subtitle is not paid as required by this subtitle, the person and/or other legal entity liable for the payment of that tax shall be assessed by the Director of Finance for:

(1) the amount of the tax due;

(2) interest at the rate of ½% for each month or fraction of a month, accounting from the date when such written instrument was received for recordation; and

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