(a) Every person who anticipates any taxable income in excess of One Hundred Dollars ($100.00) which is not subject to Section 181.06 hereof, or who engages in any business, profession, enterprise or activity subject to the tax imposed by Section 181.03 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. When a person's income is wholly from qualifying wages from which the tax will be withheld and remitted to the City in accordance with Section 181.06 hereof, such person need not file such declaration.
(b) (1) Such declaration shall be filed on or before the fifteenth (15th) day of the fourth month following the beginning of each tax year or within four (4) months of the date the taxpayer becomes subject to tax for the first time.
(2) Those taxpayers reporting on a fiscal year basis shall file a declaration within four (4) months after the beginning of each fiscal year or period.
(c) Such declaration of estimated tax to be paid the City shall be accompanied by a payment of at least twenty-two and one-half percent (22.5%) of the estimated annual tax liability, and at least a similar amount shall be paid on or before the last day of the seventh, tenth, and thirteenth month after the beginning of the tax year.
(d) (1) Such declaration shall be filed upon a form furnished by, or obtainable from, the Tax Administrator. A credit shall be taken for the City tax to be withheld from any portion of such income. In accordance with the provisions of Section 181.15 hereof, credit may be taken for tax to be paid to or to be withheld and remitted to another taxing municipality.
(2) The original declaration, or any subsequent amendment thereof, may be increased or decreased on or before any subsequent quarterly payment date as herein provided.
(e) The City shall accept for filing a generic form of a required return, report, or document if the generic form, once completed and filed, contains all of the information required to be submitted with the City’s described returns, reports, or documents, and if the taxpayer or tax preparer filing the generic form otherwise complies with the rules or ordinances of the City governing the filing of returns, reports, or documents.
(f) In the case where an amended estimate has been filed, any balance which may be due the City shall be paid at twenty-two and one-half percent (22.5%) of the annual amended estimate on or before the remaining payment dates.
(g) On or before the fifteenth (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 due the City, shall be paid therewith, in accordance with the provisions of Section 181.05 hereof.
(h) When the Tax Administrator deems a declaration of estimated tax to be inadequate, he shall determine a reasonable estimated tax, adjust the declaration and demand the additional payment due. The Tax Administrator shall demand a declaration immediately upon a taxpayer becoming subject to the tax.
(Ord. 2-05-O. Passed 2-14-05.)