(a) Delinquency date. Except as otherwise provided herein, all license taxes required by this chapter shall be deemed delinquent if not paid on or before the time hereinafter prescribed:
(1) ANNUAL LICENSES. On or before the close of business on the first day of February of each year, provided that license taxes and taxes payable pursuant to sections 5.35, 5.36, 5.37, 5.38, and 5.39 shall be paid on a quarterly basis upon application by the licensee as follows:
(i) The first quarterly payment for January through March shall be due and payable on January 1, of each year and shall be delinquent on February 1 of said year. The payment shall be accompanied by a statement of the gross receipts or tonnage figures for the previous year as the case may be.
The first quarterly payment shall be not less than one-fourth of such yearly payment or, for a business license under section 5.35 and 5.36, five thousand dollars, whichever is higher, but adjusted to reflect any underpayment or overpayment of taxes for the preceding quarter or quarters.
(ii) The second, third, and fourth quarterly payments shall be due and payable on the first day of April, July, and October, respectively, and shall be delinquent on the first day of May, August, and November, respectively. Each such payment shall be accompanied by the appropriate gross receipts or tonnage figures for the preceding quarter. Each such payment shall be one-fourth of the yearly payment, but adjusted to reflect any underpayment or overpayment of taxes for the preceding quarter or quarters.
(iii) If a quarterly payment has not been paid by the first day of the third month of the quarter in which it is due, the license shall automatically expire.
(2) DAILY LICENSE. On or before the close of business on each day for which the same becomes due.
(b) Penalties. Whenever the license tax required by this chapter is not paid on or before the delinquency date, a penalty of ten percent of the amount due for the license tax shall be imposed, and an additional penalty of ten percent of the original license tax shall be added at the close of business on the last day of each calendar month thereafter. Every penalty shall become a part of the license tax required by this chapter. In no case shall the total penalty for delinquent license taxes exceed fifty percent of the original license tax for each year.
