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(a) Every person who anticipates the receipt of any taxable income which is not subject to Section 880.09, or who engages in any business, profession, enterprise or activity subject to the tax imposed by Section 880.03, shall file a declaration setting forth such person’s estimated taxable income, together with any estimated tax due thereon, if any, provided, however, that if a person’s income is wholly from wages from which the tax will be withheld and remitted to the City in accordance with Section 880.09, such person need not file a declaration.
(b) Such declaration shall be filed on or before April 30 of each year during the life of this chapter, or within four months after the date the taxpayer becomes subject to the provisions of this chapter.
Those taxpayers reporting on a fiscal-year basis shall file a declaration within four months after the beginning of each fiscal year or period.
(Ord. 30-70. Passed 7-13-70.)
(c) Such declaration shall be filed upon a form furnished by or obtainable upon request from the Superintendent, provided, however, that credit shall be taken for the City tax to be withheld from any portion of such income to determine the estimated tax due.
In accordance with the provisions of Section 880.18, credit may be taken for tax to be paid to, or to be withheld and remitted to, another taxing municipality.
The original declaration, or any subsequent amendment thereof, may be amended at any time.
An amended declaration must be filed on or before January 31 of the following year, or, in the case of a taxpayer on a fiscal year basis, on or before the date fixed by regulation of the Superintendent if it appears that the original declaration made for such taxable year underestimated the taxpayer’s income by ten percent or more. At such time, a payment which, together with prior payments, is sufficient to pay the taxpayer’s entire estimated liability, shall be made. If, upon the filing of the return required by Section 880.08, it appears that the taxpayer did not pay ninety percent of his or her tax liability, as shown on the return, on or before January 31, or the date fixed by regulations, whichever is applicable, the difference between ninety percent of the taxpayer’s liability and the amount of estimated tax actually paid on or before January 31, or the date fixed by regulation, whichever is applicable, shall be subject to the interest and penalty provisions of Section 880.13.
(d) Such declaration of net estimated tax to be paid the City shall be accompanied by a payment of at least one-fourth of the estimated annual tax, less credit, and at least a similar amount shall be paid on or before the last day of the seventh and tenth months after the beginning of the taxable year and the first month of the next tax year.
(e) On or before the fifteenth of the fourth month of the calendar or fiscal 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 880.08. If the tax return is filed and paid within forty-five days after the end of the tax year, the fourth quarter estimated tax payment may be eliminated.
(Ord. 12-96. Passed 12-16-96; Ord. 12-10. Passed 7-19-10.)