[Adopted 11-16-1978 as Ch. 113, Art. III, of the 1978 Code]
[Amended 2-4-1999 by L.L. No. 1-1999]
Every utility shall pay a tax of 1% of its gross
income on transactions conducted within the territorial limits of
the Incorporated Village of Lake Grove in accordance with New York
State Village Law § 5-530.
The first return and payment shall be made to
the Village Treasurer by January 31, 1971, for the 12 months ending
December 31, 1970. Thereafter, returns and payments shall be made
to the Village Treasurer by July 31 for the previous six months ending
June 30 and by January 31 for the previous six months ending December
31.
[Amended 2-4-1999 by L.L. No. 1-1999]
This article shall be construed in accordance
with New York State Village Law § 5-530 and § 186-a
of the New York State Tax Law. All definitions and limitations therein
are incorporated in this enactment by reference as if set forth at
length herein.
Any utility failing to file a return or a corrected
return or failing to pay any tax or any portion thereof within the
time required by this article shall be subject to a penalty of 5%
of the amount of tax due, plus 1% of such tax for each month of delay
or fraction thereof, excepting the first month, after such return
was required to be filed or such tax became due; but the Village Treasurer,
if satisfied that the delay was excusable, may, subject to the approval
of the Board of Trustees, remit all or any portion of such penalty.
