(a) Every person who anticipates any taxable income which is not subject to the provisions of Section 181.05, or who engages, in any business profession, enterprise or activity subject to the tax imposed by Section 181.02, 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; provided, however, if a person's income is wholly from wages from which the tax shall be withheld and remitted to the Municipal in accordance with Section 181.05, such person need not file a declaration.
(b) Filing Date.
(1) Such declaration shall be filed on or before April 15 of each year during the life of this chapter, or within one hundred five (105) days of the date the taxpayer becomes subject to the tax for the first time.
(2) Those taxpayers reporting on a fiscal year basis shall file a declaration within one hundred five (105) days after the beginning of each fiscal year or period accompanied by a payment of at least one-fourth of the estimated annual tax shown due thereon, and shall make quarterly payments each three months thereafter.
(c) Such declaration shall be filed upon a form furnished by or obtainable from the Tax Administrator, or a generic form, provided, however, credit shall be taken for the Municipal tax to be withheld from any portion of such income. In accordance with the provisions of Section 181.07, credit may be taken for tax to be paid or to be withheld and remitted to another taxing Municipality.
(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.
(Ord. 2491. Passed 12-17-01.)
(e) Such declaration of estimated tax to be paid to the Municipality shall be accompanied by a payment of at least one-fourth of the estimated annual tax and at least a similar amount shall be paid on or before June 15, September 15, and January 15. Provided, however, that in case an amended declaration has been filed, the unpaid balance due thereon shall be paid in equal installments on or before the remaining payment dates.
(f) On and after July 1, 2005, and notwithstanding any other provision of this section, a taxpayer who is an individual must remit payment of estimated taxes as follows:
(1) Not more than twenty-two and one-half percent (22-1/2%) of the taxpayer’s estimated tax liability for the current year shall be required to be remitted on or before April 15;
(2) Not more than forty-five percent (45%) of the taxpayer’s estimated tax liability for the current year shall be required to be remitted on or before June 15;
(3) Not more than sixty-seven and one-half percent (67 1/2%) of the taxpayer’s estimated tax liability for the current year shall be required to be remitted on or before September 15; and
(4) Not more than ninety percent (90%) of the taxpayer’s estimated tax liability for the previous year shall be required to be remitted on or before January 15.
Any amount deducted and withheld for taxes from the compensation of an individual shall be considered as estimated taxes paid in equal amounts on each of the payment dates described above. (Ord. 2676. Passed 10-24-05.)
(g) On and after January 1, 2003, and notwithstanding any other provision in this section a taxpayer that is not an individual shall remit payments of estimated taxes according to
the following:
(1) Not more than twenty-two and one-half percent (22-1/2%) of the taxpayer's estimated tax liability for the current year shall be required to be remitted on or before April 15 or, in the case of a fiscal year taxpayer, the 15th of the fourth month of the taxpayer's taxable year;
(2) Not more than forty-five percent (45%) of the taxpayer's estimated tax liability for the current year shall be required to be remitted on or before the 15th day of June or, in the case of a fiscal year taxpayer, the 15th day of the sixth month of the taxpayer's taxable year;
(Ord. 2491. Passed 12-17-01.)
(3) Not more than sixty-seven and one-half percent (67 1/2%) of the taxpayer’s estimated tax liability for the current tax year shall be required to be remitted on or before the 15th day of September, or in the case of a fiscal year taxpayer on or before the 15th day of the ninth month of the taxpayer’s taxable year, and (Ord. 2676. Passed 10-24-05.)
(4) Not more than ninety percent (90%) of the taxpayer's estimated tax liability for the previous year shall be required to be remitted on or before the 15th day of December or, in the case of a fiscal year taxpayer, the 15th day of the twelfth month of the taxpayer's taxable year.
(h) An amended declaration shall be filed on or before January 31 of any year or in the case of a taxpayer on a fiscal year account basis, on or before the date fixed by regulation of the Tax Administrator, if it appears that the original declaration made for such year underestimated the taxpayer's income by twenty percent (20%) or more. At such time a payment shall be made, if upon the filing of the return required by Section 181.04, it appears that the taxpayer did not pay eighty percent (80%) of his tax liability, as shown on such return, on or before the date above determined when the fourth estimated payment was due, the difference between eighty percent (80%) of the taxpayer's liability and the amount of estimated tax liability he actually paid on or before fourth estimated payment due date shall be subject to the interest and penalty provision of Section 181.10, however, any taxpayer whose declared tax is equal to or greater than the tax paid in the previous year shall not be assessed any interest or penalty for any increased taxes found to be due in the current year.
(i) On or before the 15th day of the fourth month of the tax 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 Municipality shall be paid therewith in accordance with the provisions of Section 181.04.
(Ord. 2491. Passed 12-17-01.)