173.18 DECLARATIONS OF INCOME NOT COLLECTED AT SOURCE.

   (a)   Every person who anticipates any taxable income which is not subject to Section 173.17 or who engages in any business, profession, enterprise or activity subject to the tax imposed by Section 173.03 shall file a declaration setting forth such estimated income or the estimated profit or loss from such business activity together with the estimated tax due thereon, if any. However, if a person's income is wholly from wages from which the full tax will be withheld and remitted to the City, or to another income taxing city, in accordance with Section 173.17, such person need not file a declaration.

   (b)   No penalties or interest shall be assessed on estimated payments if the taxpayer has remitted an amount equal to one hundred percent of the previous year's tax liability, provided that the previous year reflected a twelve-month period, or if 90% of the actual liability has been received.
(Ord. 2004-218. Passed 12-21-04.)