Any person, firm, corporation or association who  a return on the date it is due as required by this act shall pay a penalty equal to five percent (5%) of the amount of the tax due if the failure is for not more than one (1) month, with an additional five percent (5%) for each additional month or fraction thereof not to exceed twenty-five percent (25%) in the aggregate, or five dollars ($5.00), whichever is the greater.

Any person, firm corporation or association who  the tax on the date it is due shall pay a penalty equal to ten percent (10%) of the amount of the tax due. Failure to both file a return AND pay the tax as required by this act shall result in imposition of BOTH penalties.

Failure which is determined to be negligent, willful, or fraudulent will result in increased penalties and potential punishment as a Class 1 misdemeanor. G.S. 105-236.