The declaration of estimated tax to be paid to the City shall be accompanied by a payment according to the following schedule:
(a) If the taxpayer is an individual, twenty-two and one-half per cent (22.5%) of the taxpayer's estimated tax liability for the current year shall be remitted not later than the fifteenth day of April, or not later than the federal filing date if it is other than April 15th; forty-five percent not later than the thirty-first day of July; sixty-seven and one-half per cent not later than the thirty-first day of October; and ninety per cent of the taxpayer's estimated tax liability for the year shall be remitted not later than the thirty-first day of January of the subsequent year. However, in case an amended declaration has been filed, the unpaid balance shown to be due thereon shall be paid in equal installments on or before the remaining payment dates.
(b) If the taxpayer is a corporation, association, or other business entity, twenty-two and one-half per cent (22.5%) of the taxpayer's estimated tax liability for the current year shall be remitted not later than the fifteenth day of the fourth month of the taxable year, and an additional twenty-two and one-half per cent (22.5%) shall be paid not later than the sixth, ninth, and twelfth months of the taxable year. However, in case an amended declaration has been filed, the unpaid balance shown to be due thereon shall be paid in equal installments on or before the remaining payment dates.
(Ord. 260-1972. Passed 11-20-72; Ord. 179-2004. Passed 10-18-04; Ord. 207-2009. Passed 12-7-09.)