(a) Except as herein provided, any person whose income tax 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 882.04 hereof shall file a declaration setting forth estimated taxable 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) The tax withheld within the Village; and
(2) The tax credit allowed in Section 882.35.
(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 ten dollars ($10.00), no declaration or payment of estimated tax is required. (Ord. 94-71. Passed 12-21-71; Ord. 94-73. Passed 12-18-73.)