A business registered with the City's Business Tax Division in a previous year that fails to register (renew) by February 15th will pay a late fee of $500.00 in addition to the occupation tax due. Failure to pay the occupation tax by April 1st will result in an accrued interest of 1.5% per month on the tax due. If payment has not been received by July 1st, an assessment of a 10% penalty will be applied to the tax due.