(A) Requirements for filing. Every person who anticipates any taxable income which is not subject to § 35.04 or who engages in any business, profession, enterprise or activity subject to the tax imposed by § 35.02(A)(4) and (5) 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 qualifying wages, from which the tax will be withheld and remitted to the municipality in accordance with § 35.04, such person need not file a declaration.
(B) Dates for filing.
(1) Such declaration shall be filed on or before April 15 of each year during the life of this chapter, or on or before the fifteenth day of the fourth month following the date the taxpayer becomes subject to tax for the first time.
(2) Those taxpayers having a fiscal year or period differing from the calendar year basis shall file a declaration on or before the fifteenth day of the fourth month after the beginning of each fiscal year period.
(C) Forms; credit for tax withheld or paid another municipality. Such declaration shall be filed upon a form furnished by, or obtainable from the Finance Director or his delegate, 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 § 35.06, credit may be taken for tax to be paid to 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 day as provided herein. In the event that an amended declaration has been filed, the unpaid balance shown due thereon shall be paid in equal installments on or before the remaining payment dates.
(E) For taxpayers who are individuals, such declarations of estimated tax to be paid the municipality shall be accompanied by a payment of at least 22.5% of the estimated annual tax, and at least a similar amount shall be paid on or before the last day of the seventh, tenth and thirteenth months after the beginning of the taxable year.
(F) For taxpayers who are not individuals, such declaration of estimated tax to be paid the municipality shall be accompanied by a payment of at least 22.5% of the estimated annual tax and at least a similar amount shall be paid on or before the fifteenth day of the sixth, ninth and twelfth months after the beginning of the taxable year.
(G) The mere submission of a declaration estimating a tax liability shall not constitute filing unless accompanied by the required payment.
(H) On or before the fifteenth 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 which may be due the municipality shall be paid therewith in accordance with the provisions of § 35.03.
(I) An entity (individual, corporate or association) may pay 100% of the prior year's tax in four equal installments in the current year and avoid any underpayment of estimated tax penalty. Prior year tax of zero or a prior year loss will not avoid penalty. No penalty for failure to pay estimated tax will apply to an entity whose tax for the year, after credit for tax withheld, is less than $100. A declaration of estimated tax which is less than 90% of the tax shown to be due on the final return shall not be considered in good faith. The difference shall be subject to penalties and interest as provided for in § 35.07(A) and (B).
('80 Code, § 181.08) (Ord. 100-90, passed 11-5-90; Am. Ord. 98-92, passed 11-16-92; Am. Ord. 116-03, passed 11-17-03)