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(a) The declaration required by Section 791.18 shall be filed upon a form furnished by, or obtainable from, the Administrator, provided, however, that credit shall be taken for the City of Euclid tax to be withheld from any portion of such income. In accordance with the provisions of Sections 791.34 and 791.35, credit may be taken for the tax to be paid or to be withheld and remitted to another taxing municipality or joint economic development district.
(b) The original declaration, or any subsequent amendment thereof, may be increased or decreased on or before any subsequent quarterly date as provided for herein.
(Ord. 262-1966. Passed 12-23-66; Ord. 207-2009. Passed 12-7-09.)
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.)
(a) Penalties and interest shall not be assessed, for not filing a declaration, on any resident taxpayer who was not domiciled in the City on the first day of January in the year in which they became subject to estimated payments.
(b) Penalties and interest shall not be assessed on estimated payments if the taxpayer has remitted an amount equal to one hundred percent of the previous year's tax liability, provided that the previous year reflected a twelve-month period and the taxpayer filed a return for that year.
(c) Penalties and interest shall not be assessed on estimated payments if the taxpayer has remitted, on or before the following dates for the year for which the estimated tax payments are being made, an amount equal to at least ninety percent of the final tax liability:
(1) In the case of individuals, the date shall be January 31st of the year in which the annual return is due.
(2) In the case of businesses which are calendar year filers, the date shall be December 15th of the tax year for which the estimated payments are being made.
(3) In the case of fiscal year filers, the fifteenth day of the twelfth month of the tax year for which the estimated payments are being made.
(Ord. 207-2009. Passed 12-7-09)
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