(a) Every person, except an individual employee whose only taxable income is taxable wages that are subject to the withholding of Municipality income tax pursuant to Section 183.07, who anticipates any taxable income, or who engages in any business, profession, enterprise or activity subject to the tax imposed by Section 183.03 hereof 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. An estimated income tax declaration is not required to be filed if the amount of the estimated tax, due and payable, is less than $10.
(b) (1) Such declaration shall be filed on or before April 15th each year during the life of this chapter, or on or before the 15th day of the 4th month after the date the taxpayer becomes subject to tax for the first time.
(2) Those taxpayers reporting on fiscal year basis shall file a declaration on or before the 15th day of the 4th month after the beginning of each fiscal year or period.
(c) Such declaration shall be filed upon a form furnished by, or obtainable from the Finance Director, provided, however, credit shall be taken for this Municipality's income tax to be withheld pursuant to Section 183.07.
(d) 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) An amended declaration must be made by January 31 for individuals and December 15 for all other taxpayers if it appears that the original declaration underestimated the income for the year by more than ten percent (10%) or if the original declaration is not equal to the taxpayer's prior year tax liability.
(f) For individuals, such declaration of estimated tax to be paid to this Municipality shall be accompanied by a payment of at least one-fourth (1/4) of the estimated annual tax on or before April 15, and again on or before July 31, and October 31 of the taxable year, and January 31 of the next year. For all other taxpayers, such declaration of estimated tax to be paid to this Municipality shall be accompanied by a payment of at least one-fourth (1/4) of the estimated annual tax on or before April15 and at least a similar amount shall be paid on or before June 15, September 15 and December 15. A taxpayer reporting on a fiscal year shall make a payment of at least one-fourth (1/4) of the estimated tax on or before the 15th day of the fourth month of the taxpayer's taxable fiscal year and the 15th day of the sixth, ninth and twelfth months of the taxpayer's taxable fiscal year, provided, however, that when an amended declaration is filed, the unpaid balance shown due thereon shall be paid in equal installments on or before the remaining payment dates.
(g) On or before the 15th day of the fourth month 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 this Municipality shall be paid therewith in accordance with the provisions of Section 183.06 hereof.
(Ord. 2013-37. Passed 11-20-13.)