(a) Each taxpayer except as herein provided, shall, whether or not a tax be due thereon, make and file a return on or before April 15, of the year following the effective date of this section, and on or before April 15, of each year thereafter. When the return is made for a fiscal year or other period different from the calendar year, the return shall be filed within four months from the end of such fiscal year or period. The Commissioner is hereby authorized to provide by regulation that the return of an employer or employers, showing the amount of tax deducted by such employer or employers from the salaries, wages, commissions or other compensation of an employee, and paid by him or them to the Commissioner shall be accepted as the return required by any employee whose sole income, subject to tax under this chapter, is such salary, wages, commissions, or other compensation.
(b) The return shall be filed with the Commissioner on a form or forms furnished by or obtainable upon request from such Commissioner or a generic form setting forth:
(1) The aggregate amounts of salaries, wages, commissions and other compensation earned and gross income from business, profession or other activity, less allowable expenses incurred in the acquisition of such gross income earned during the preceding year and subject to the tax.
(2) The amount of tax imposed by this chapter on such earnings and profits; and
(3) Such other pertinent statements, information returns, or other information as the Commissioner may require.
(Ord. 04-26. Passed 10-25-04.)
(c) The Commissioner may extend the time for filing of the annual return upon the request of the taxpayer for a period of not to exceed six months, or one month beyond any extension requested of or granted by the Internal Revenue Service for the filing of the Federal Income Tax return. The Commissioner may require a tentative return, accompanied by payment of the amount of tax shown to be due thereon by the date the return is normally due. No penalty or interest shall be assessed in those cases in which the return is filed and the final tax paid within the period as extended.
(d) (1) The taxpayer making a return shall, at the time of the filing thereof, pay to the Commissioner the amount of taxes shown as due thereon; provided, however, that where any portion of the tax so due shall have been deducted at the source pursuant to the provisions of Section 181.06, or where any portion of the tax shall have been paid by the taxpayer pursuant to the provisions of Section 181.07, where an income tax has been paid another municipality, credit for the amount so paid in accordance with Section 181.14 hereof, shall be deducted from the amount shown to be due and only the balance, if any, shall be due and payable at the time of filing the return.
(2) A taxpayer who has overpaid the amount of tax to which the City is entitled under the provisions of this chapter may have such overpayment applied against any subsequent liability hereunder, or, at his election indicated on the return, such overpayment, or part thereof, shall be refunded, provided that no additional taxes or refunds of less than one dollar ($1.00) shall be collected or refunded.
(3) Net business losses cannot offset W-2 wages, salaries, or other compensation. A taxpayer with two or more unincorporated business activities can offset them against each other to arrive at overall net profit or loss.
(e) (1) Where necessary an amended return must be filed in order to report additional income and pay any additional tax due, or claim a refund of tax overpaid, subject to the requirements and/or limitations contained in Sections 181.11 and 181.14. Such amended returns shall be on a form obtainable on request from the Commissioner. A taxpayer may not change the method of accounting or apportionment of net profits after the due date for filing the original return.
(2) Within three months from the final determination of any Federal tax liability affecting the taxpayer's City tax liability such taxpayer shall make and file an amended City return showing income subject to the City tax based upon such final determination of Federal tax liability, and pay any additional tax shown due thereon or make claim for refund of any overpayment. (Ord. 99-47. Passed 12-27-99.)