(a)   Any person whose income tax is not fully withheld in the City or in another municipality in which taxes are withheld at a rate the same as or higher than the rate provided in Section 187.03 shall file a declaration setting forth taxable estimated income, including distributive shares of net profits of unincorporated business entities estimated to be earned by the taxpayer during the current tax year, together with the estimated tax due thereon less:
      (1)   Tax withheld within the City of Aurora; and
      (2)   The tax credit allowed in Section 187.31.
   (b)   If the estimated tax for the current year, less the tax to be withheld and less such tax credit, amounts to not more than fifty dollars ($50.00), no declaration or payment of estimated tax is required. 
   (c)   No penalties or interest shall be assessed on estimated payments if the taxpayer has remitted an amount equal to one hundred percent (100%) of the previous year’s tax liability, provided that the previous year reflected a twelve month period, or if ninety percent (90%) of the actual liability has been received.
(Ord. 2005-049.  Passed 3-28-05.)