(a) An employee whose entire wages, salaries or other compensation for any taxable year will be subjected to the withholding provisions under 181.14, whose tax will accordingly be withheld for his entire earnings for the 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 Chapter 183, need not file a declaration as provided in this section.
(b) All other tax payers (as defined in Chapter 183 and in this Chapter) subject to the taxes imposed in Section 183.02 and every tax payer who anticipates any income or net profits not subject to total withholding as provided in subsection (a) hereof shall file with the Tax Administrator a declaration of his estimated tax as follows:
(1) Not more than 22 1/2% of the tax payer’s estimated tax liability for the current year shall be required to have been remitted on or before the 30th day of April or the day on which the annual tax return for the prior year is to be filed disregarding any extension, as prescribed by ordinance.
(2) Not more than 45% of the tax payer’s estimated tax liability for the current year shall be required to have been remitted on or before the 31st day of July.
(3) Not more than 67 1/2% of the tax payer’s estimated tax liability for the current year shall be required to have been remitted on or before the 31st day of October.
(4) Not more than 90 1/2% of the tax payer’s estimated liability for the year referred to in Paragraph B-1, 2, and 3 of this Section shall be required to have been remitted on or before the 31st day of January.
(5) No declaration shall be required under this Section if the estimated tax to be paid is one hundred dollars ($100.00) or less.
(6) For taxpayers that are not individuals, such declaration of estimated tax to be paid the Municipality shall be accompanied by a payment of at least one- fourth of the estimated tax and at least a similar amount shall be paid on or before the fifteenth (15th) day of the sixth, ninth and twelfth months after the beginning of the taxable year.
(c) The declarations so required shall be filed upon a form furnished by or obtainable from the Tax Administrator. 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 Chapter 183.
(d) 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 181.19.
(Ord. 2004-07. Passed 9-29-04.)