(a) Requirement for Filing. Every person who engages in any business, profession, enterprise or activity subject to the tax imposed by Section 880.04, 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. Also, excepting those hereinabove set forth and those subject to Section 880.07, every person who anticipates any taxable income may, by election, file a declaration setting forth such estimated income or estimated profit or loss together with the estimated tax thereon, if any. This Section 880.08 and Section 718.08 of the Ohio Revised Code govern the obligation of taxpayer to declare its estimated City income tax liability for a given taxable year and to pay those estimated taxes. Section 718.08 of the Ohio Revised shall control to the extent there is any conflict between this Section 880.08 and the express provisions of Section 718.08 of the Ohio Revised Code.
(b) Filing Dates. Calendar dates for filing such declaration shall be subject to the provisions set forth in Section 718.08 of the Ohio Revised Code.
(c) Forms. Such declaration shall be filed upon a form furnished by or obtainable from the Administrator. Credit shall be taken for City income tax to be withheld, if any, from any portion of such income. In addition, credit may be taken for tax payable to other taxing municipalities in accordance with the provisions of Section 880.15.
(d) Amended Declarations. The original declaration, or any subsequent amendment thereof, may be increased or decreased on or before any subsequent quarterly payment date as provided for herein.
(e) Payment with Declarations. The taxpayer making the declaration shall, at the time of the filing thereof, pay to the Administrator at least 22.5% of the estimated annual tax due after deducting:
(3) Any overpayment of the previous year's tax liability which the taxpayer has not elected to have refunded. At least a similar amount shall be paid on or before the last day of the sixth, ninth and twelfth month after the beginning of the taxpayer's taxable year, provided that in case an amended declaration has been duly filed or the taxpayer is taxable for a portion of the year only, the unpaid balance shall be paid in equal installments on or before the remaining payment dates.
(f) Lump Sum Payment. At the discretion of the taxpayer, the total sum due may be paid in one lump sum by the due date, or made in quarterly installments, as described in Section 880.08(b). Any or all quarterly installments of the taxpayer's estimated tax may be paid in advance of the due date.
(g) Annual Return Required. On the dates required in Section 880.08(b)(1) 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 City shall be paid therewith in accordance with the provisions of Section 880.06.
(Ord. 72-15. Passed 9-28-15.)