(a) Every taxpayer making net profits shall, on or before April 15 of the succeeding year, make and file with the Income Tax Officer, on a form prescribed or approved by the Income Tax Officer, a final return showing the amount of net profits earned during the period beginning January 1 of the current year and ending December 31 of the current year, the total amount of tax due thereon and the total amount of tax paid thereon. At the time of filing the final return, the taxpayer shall pay to the Income Tax Officer the tax due.
(b) Any taxpayer who discontinues business prior to December 31 of the current year shall, within thirty days after the discontinuance of business, file his or her final return as hereinabove required and pay the tax due.
(c) Every taxpayer shall, on or before April 15 of the succeeding year, make and file with the Income Tax Officer, on a form prescribed or approved by the Income Tax Officer, a final return showing the amount of earned income received during the period beginning January 1 of the current year and ending December 31 of the current year, the total amount of tax due thereon, the amount of tax paid thereon, the amount of tax thereon that has been withheld pursuant to the provisions relating to the collection at source, and the balance of tax due. At the time of filing the final return, the taxpayer shall pay the balance of the tax due or shall make demand for refund or credit in the case of overpayment.
(d) Every taxpayer who is employed for a salary, wage, commission or other compensation relating to the collection at source shall make and file with the Income Tax Officer, on a form prescribed or approved by the Income Tax Officer, an annual return setting forth the aggregate amount of earned income not subject to withholding during the period beginning January 1 and ending December 31 of the current year, and such other information as the Income Tax Officer may require, and pay to the Income Tax Officer the amount of tax shown as due thereon on or before April 15 of the succeeding year. Every taxpayer making such return shall, at the time of filing thereof, pay to the Income Tax Officer the amount of tax shown as due thereon.
(1) Every taxpayer who anticipates any income which is not subject to the provisions of Section 880.05 shall file a declaration of the estimated tax for that part of the taxable year beginning July 1, 1978, and ending December 31, 1978. Such declaration for the taxable year beginning July 1, 1978, and ending December 31, 1978, shall be filed on or before October 31, 1978, and shall be accompanied by a payment of at least one-half of the estimated tax due for the said period, and at least a similar amount for the said period shall be paid on or before January 31, 1979.
(2) Such declaration shall also be filed on or before April 30, 1979, for the taxable calendar year of January 1, 1979, on or before April 30 of each year for that calendar year during the life of this chapter by all such taxpayers. Such declarations shall be filed upon a form furnished by the Income Tax Officer, which form may simply state that the figures used in making such declaration are the figures used in making the declaration of the estimate for Federal Income Tax, provided, however, that it is understood that such figures may be modified according to the provisions of this chapter so that the declaration required by this section shall set forth only such income as is taxable under the provisions of this chapter.
(3) On April 30, 1979, and for each calendar year thereafter that this chapter is in effect, such a declaration of estimated tax to be paid to the Borough shall be accompanied by a payment of at least one fourth of the estimated annual tax, and at least a similar amount for such year, shall be paid on or before July 31, October 31 and January 31 of such year, provided, however, that such estimate may be amended at the time of making any quarterly payment, and further provided that, on or before April 15 of the year following that for which such declaration was filed, a final return shall be filed and any balance which may be due to the Borough shall be paid therewith. Should it then appear that such taxpayer has paid more than the amount of tax to which the Borough would be entitled under the provisions of this chapter, a refund of the amount so overpaid shall be made.
(Ord. 1862. Passed 3-21-78.)