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(a) Each person subject to a license issuance fee or license tax shall apply for a license . prior to beginning business if he was not subject to licensure in the city on or before January 1 of the license year, or no later than March 1 of the license year if he had been issued a license for the preceding year. The application shall be on forms prescribed by the Commissioner of ncvcnnc. (b) The Commissioner of Reoerme may grant an extension of time in which to file an application for a license, for reasonable cause not to exceed ninety (90) days. Any such extension shall be conditioned upon the timely payment of a reasonable estimate of the appropriate issuance fee and tax. The amount paid is then subject to adjustment at the end of the extension, together with interest from the due date until the date paid and, if the estimate submitted with the extension is found to be unreasonable under the circumstances, with a penalty of ten percent (10%) of the portion paid after the due date. (c) All license issuance fees and license taxes imposed by this chapter shall be due and payable on or before March 1 st of each license year, unless otherwise expressly provided. (d) If the amount owed is not paid by the appropriate due date as set forth above, a penalty of ten percent (10%) of the amount owed shall be imposed. In the case of an assessment of additional tax made by the Commissioner of Reoem;e, if the application was made in good faith and the understatement of the tax was not due to any fraud, reckless or intentional disregard of the law by the taxpayer, there shall be no late payment penalty assessed with the additional • tax. If any assessment of issuance fee or tax by the Commissioner of Recent e is not paid within thirty (30) days, the Commissioner of Revenue shall impose a ten percent (10%) late payment penalty. If the failure to pay was not the fault of the taxpayer, the penalties shall not be imposed, or if imposed, shall be abated by the treasure r Commissioner. In order to demonstrate lack of fault, the taxpayer must show that he acted responsibly and that the failure was due to events beyond his control. (e) When used in this section, "acted responsibly" means that: (i) the taxpayer exercised the level of reasonable care that a prudent person would exercise under the circumstances in determining the filing obligations for the business; and (ii) the taxpayer undertook significant steps to avoid or mitigate the failure, such as requesting appropriate extensions (where applicable), attempting to prevent a foreseeable impediment, acting to remove an impediment once it occurred, and promptly rectifying a failure once the impediment was removed or the failure discovered. (f) When used in this section, "events beyond the taxpayer's control" include, but are not limited to, the unavailability of records due to fire or other casualty, the unavoidable absence (e.g., due to death or serious illness) of the person with the sole responsibility for tax compliance, or the taxpayer's reasonable reliance in good faith upon erroneous written information from the Commissioner who was aware of the relevant facts relating to the taxpayer's business when he provided the erroneous information. Page 10 of 26