(a) Each taxpayers whose earnings or profits are subject to the Ashland municipal income tax, shall on or before April 30, 1974, and on or before April 30 of each year thereafter, through 1997, and then and on or before April 15 of each year thereafter, make and file a return with the Director of Finance and Public Record on a form obtainable from the Director, setting forth the aggregate amount of salary, wages or other compensation, including any deferred income, and net profits earned by him during the preceding year or period and subject to the tax, together with other pertinent information as the Director may require. Provided, however, that when the final return is made for a fiscal year or other period different from the calendar year, the return shall be made within 120 days from the end of the fiscal year or other period.
(Ord. 62-97. Passed 10-21-97.)
(b) The return shall also show the amount of the Ashland Municipal income tax imposed on such earnings and profits. The taxpayer making the return shall, at the time of the filing thereof, pay to the Director the amount of tax shown as due thereon. Provided, however, that where any portion of the tax has been paid by such taxpayer pursuant to the provisions of Sections 229.04 and/or 229.05, credit for the amount so paid shall be deducted from the amount shown to be due and only the balance, if any, shall be due and payable at the time of filing the final return.
(Ord. 62-72. Passed 12-5-72.)
(c) Effective January 1, 1991, all residents, eighteen years of age or older, shall file an annual return, notwithstanding whether Ashland municipal income tax has been withheld by an employer or any other reason, except in such cases when a resident qualifies for an exemption, for such reasons as approved by motion of Council, and when any such qualifying resident files, with the Ashland Municipal Income Tax Division, an individual declaration of filing exemption return in lieu of an Ashland municipal income tax return. As for non-residents having income subject to the Ashland municipal income tax, the return of an employer or employers showing that the correct amount of Ashland municipal income tax has been deducted by the employer or employers from the salaries, wages or compensation of any such employee, and has been paid by the employer or employers to the Director, shall be accepted as the return required of any such employee. Otherwise, non-residents, having income subject to the Ashland municipal income tax, shall also file an annual Ashland municipal income tax return. (Ord. 26-98. Passed 4-7-98.)
(d) Upon written request of the taxpayer, the Director may extend the time for filing the annual return for a period of not more than six months or not more than thirty days beyond any extension requested of or granted by the Bureau of Internal Revenue for the filing of the Federal income tax return. (Ord. 62-72. Passed 12-5-72.)
(e) If a net operating loss has been sustained in any taxable year, such losses may not be carried forward or backward to any other taxable year.
(f) Affiliated corporations may not deduct a loss from any other corporation having a taxable profit and operations of any affiliated corporation having a loss may not be taken into consideration in computing net profits or business allocation percentage formula.
(Ord. 60-90. Passed 10-2-90.)