The return shall be filed with the Administrator on a form or forms furnished by or obtainable upon request from the Administrator. On or after January 1, 2001, the City shall accept a generic form of such a return, report or document if the generic form contains all of the information required to be submitted with the City’s prescribed returns, reports or documents.
(a) 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 income earned during the preceding year and subject to the tax;
(b) The amount of tax imposed by this chapter on such earnings, profits, compensation and other taxable income;
(c) Such other pertinent statements, information returns or other information as the Administrator may require;
(d) Information returns, schedules, and statements required to support tax returns which are incomplete without such information shall be filed within the time limits set forth for the filing of the tax returns and the failure to file such information returns, schedules, and statements shall be deemed to be in violation. However, the taxpayer shall have ten days after notification by the Administrator, or his authorized representative, to file the items required by this section, after this date penalties as prescribed in Section 183.1502(a) will apply.
(e) Every taxpayer shall retain all records necessary to compute tax liability for a period of five years from the date the return is filed, or the taxes required to be withheld are paid.
(f) All taxable income derived from a pass-through entity to an owner or shareholder will be taxed at the entity level. Corporations electing a federal Subchapter S status will be taxed in the same manner as a C Corporation. Amounts received by a taxpayer from a non-resident pass through entity will be treated as wages.
(g) Organizations falling under IRS 501(C)3 regulations must report amount declared on Federal Form 990T if required.
(h) Check cashing establishments must produce a copy of their “Small Loan License” specified in Ohio R.C. Chapter 1321.02 as required under Ohio R.C. 1321.01 through 1321.19 as issued to the Eastlake location; a proof of payment of the State of Ohio licensing fee for each tax year; and a copy of the lending agreement between the company and its clients in effect for each tax year for the Eastlake location. (Ord. 2005-135. Passed 12-6-05.)