(a) Any person whose income is not fully withheld in the Village or in another municipality in which taxes are withheld at a rate the same as or higher than the rate provided in Section 183.03 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 year due thereon less:
(1) Tax withheld within Village, and
(2) The tax credit allowed in Section 183.14.
If the estimated tax for the current year, less the tax to be withheld and less such tax credit, amounts to not more than ten dollars ($10.00) no declaration or payment of estimated tax is required.
(b) (1) Such declaration shall be filed on or before April 15 of each year during the life of this chapter, or within four months of the date the taxpayer becomes subject to tax for the first time.
(2) Those taxpayers reporting on a fiscal year basis shall file a declaration within four months after the beginning of each fiscal year or period.
(c) (1) Such declaration shall be filed upon a form furnished by, or obtainable from, the Administrator, provided, however, credit shall be taken for the Village income tax to be withheld from any portion of such income. In accordance with the provisions of Section 183.14 hereof, credit may be taken for tax to be paid to or to be withheld and remitted to another taxing municipality.
(2) The original declaration, or any subsequent amendment thereof, may be increased or decreased on or before any subsequent quarterly payment date and provided for herein.
(Ord. 4-1982. Passed 2-10-82.)
(Ord. 4-1982. Passed 2-10-82.)
(d) Effective January 1, 2003, the Declaration of Estimated Tax to be paid to the Village of Boston Heights by taxpayers who are individuals shall be accompanied by a payment of at least one-fourth (1/4) of the Declaration amount and at least a similar amount shall be paid on or before July 31st, and October 31st of the taxable year, and January 31st of the following year. Effective January 1, 2003, such Declaration of Estimated Tax to be paid to the Village of Boston Heights by corporations and associations shall be accompanied by a payment of at least one-fourth of the Declaration amount and at least a similar amount shall be paid on or before June 15th, September 14, and December 15th. In the case of a fiscal year taxpayer the second, third, and fourth quarterly estimated payments shall be due on the fifteenth day of the sixth, ninth and twelfth months of the taxable year, respectively.
(Ord. 4-2005. Passed 1-12-05.)
(Ord. 4-2005. Passed 1-12-05.)
(e) On or before April 15 of the year following that for which such declaration or amended declaration was filed, an annual return shall be filed and any balance which may be due the Village shall be paid therewith in accordance with the provisions of Section 183.05. However, any taxpayer may file, on or before the last day of the first month of the year following that for which such declaration or amended declaration was filed, an annual return and pay any balance due at such time, in lieu of filing a declaration or an amended declaration, and in lieu of paying the final quarterly installment based upon a declaration or amended declaration of estimated tax.
(Ord. 4-1982. Passed 2-10-82; Ord. 4-2005. Passed 1-12-05.)