(a) A taxpayer making a return shall, at the time of the filing thereof, pay to the Tax Commissioner the amount of tax shown to be due thereon, provided, however, that where any portion of the tax so due has been deducted at the source pursuant to Section 181.15, or where any portion of such tax has been paid by the taxpayer pursuant to Section 181.19, or where any income tax has been paid to another municipality, credit for the amounts so paid in accordance with Section 181.24 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 such return.
(b) A taxpayer who has overpaid the amount of tax to which the City is entitled under this chapter may have such overpayment applied against any subsequent liability hereunder, or, at his or her election indicated on the return, such overpayment or a part hereof, shall be refunded. No refund will be made unless the estimated tax for the current year has been filed and paid up to date.
(c) Each taxpayer may offset business losses against business net profits from any business conducted in the City or in any municipality that does not levy an income tax on net profits therefrom.
(d) A loss from the operation of a business may not be used to offset the income on a taxpayer's W-2 Form.
(e) Any business, profession, association or corporation reporting a net loss is subject to the filing requirements of this chapter.
(f) The officer or employee of such employer having control or supervision or charged with the responsibility of filing the return and making the payment shall be personally liable for failure to file the return or pay the tax, penalties, or interest due as required herein. The dissolution, bankruptcy or reorganization of any such employer does not discharge an officer's or employee's liability for a prior failure of such business to file the return or pay taxes, penalties, or interest due.
(g) The failure of any employer, taxpayer or person to receive or procure a return, declaration, or other required form shall not excuse him from filing any information return, tax return, declaration, or other required form, or from paying the tax.
(Ord. 7087. Passed 11-10-09.)