(a) If any amount of use tax is not paid on or before the last due date prescribed for payment, interest on such amount at the rate imposed under Section 4-2-620 of this Article shall be paid for the period from such last date to the date paid. The last date prescribed for payment shall be determined without regard for any extension of time for payment and shall be determined without regard to any notice and demand for payment issued, by reason of jeopardy, prior to the last date otherwise prescribed for such payment. In the case of a tax in which the last date for payment is not otherwise prescribed, the last date of payment shall be deemed to be the date the liability for the tax arises, and in no event shall it be later than the date notice and demand for the tax is made by the Town Manager.
(b) Interest prescribed under Sections 4-2-580 through 5-2-610 of this Article shall be paid upon notice and demand, and shall be assessed, collected and paid in the same manner as the tax to which it is applicable.
(c) If any portion of a tax is satisfied by credit of an overpayment, then no interest shall be imposed under this Section on the portion of the tax so satisfied for any period during which, if the credit had not been made, interest would have been allowed with respect to such overpayment.
(d) Interest prescribed under this Section and Sections 4-2-590 through 4-2-610 on any use tax may be assessed and collected at any time during the period within which the tax to which such interest relates may be assessed and collected. (Ord. 1263, 2007)