(a) An employee whose entire wages, salaries, or other compensation for any taxable year will be subjected to the withholding provisions under Section 187.15, whose tax will accordingly be withheld as to his entire earnings for such year by his employer, and who during such taxable year expects to derive no other compensation or other income which is subject to tax under the Ordinance, need not file a declaration as provided in this section.
(b) All other taxpayers (as defined in the Ordinance and in these Regulations) subject to the taxes imposed in Section 185.02 of the Ordinance, and every taxpayer who anticipates any income or net profits not subject to total withholding as provided in the next preceding paragraph, shall file with the City Income Tax Administrator a declaration of his estimated tax as follows:
(1) On or before April 30th, 2004 every such calendar year taxpayer shall file a declaration of his estimated tax for the taxable period beginning January 1, 2004 and ending December 31, 2004.
(2) On or before April 15, 2005 every such calendar year taxpayer shall file a declaration of his estimated tax for the taxable period beginning January 1, 2005 and ending December 31, 2005.
(3) A similar declaration shall be filed by each such taxpayer on or before the fifteenth (15th) day of April each subsequent year during the life of the Ordinance, as long as the conditions in subsection (b) hereof exist and each declaration shall contain a statement of the taxpayer's estimated tax for the full taxable year in which such declaration is filed.
(c) Taxpayers who, or which are permitted, pursuant to provisions of Section 187.10, to file a return and pay their tax on a fiscal year basis shall file their first declaration within four (4) months after the beginning of the first fiscal year beginning on or after January 1, 2004. The declaration shall set forth the taxpayer’s estimated tax for the full taxable year in which the declaration is filed.
(1) For fiscal years beginning on or after January 1, 2005, a declaration shall be filed on or before the fifteenth (15th) day of the fourth (4th) month following the start of each fiscal year or period.
(2) Such taxpayers shall make quarterly payments as prescribed in Section 187.20.
(d) The estimated tax for a calendar year taxpayer may be paid in full with the filing of the declaration or in equal installments as prescribed under Section 187.20.
(e) The declaration so required shall be filed upon a form furnished by or obtainable from the City Income Tax Administrator. In lieu of said form, a generic form may be used provided it contains all of the information required by the City Income Tax Administrator and the preparer of said form complies with all of the applicable provisions provided herein. Any taxpayer who has filed an estimate for Federal Income Tax purposes may, in making the declaration, required hereunder, simply state therein that the figures therein contained are the same figures used by the taxpayer in making the declaration of his estimate for the Federal Income Tax. However, in addition to such statement, any such taxpayer may, in such declaration, modify and adjust such declared income so as to exclude therefrom income which is not subject to tax under the Ordinance.
(f) Any estimate filed hereunder may be amended by the filing of an amended estimate at the time prescribed for the payment of any installment of tax paid in accordance with Section 187.20. (Res. 240-2003. Passed 12-30-03.)