(A) Requirement for filing. Every person who anticipates any taxable income which is not subject to withholding or who engages in any business, profession, enterprise, or activity resulting in income subject to the tax imposed by this chapter, 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. However, if a person's income is wholly from qualifying wages from which the tax will be held and remitted to this municipality in accordance with § 91.06, such person need not file a declaration.
(B) Dates for filing.
(1) Such declaration shall be filed on or before April 15 of such calendar year; or within four months after either the start of the taxpayer's fiscal year or when he first becomes subject to the provisions of this section, whichever is later.
(2) Those taxpayers reporting on a fiscal year basis shall file a declaration within four months after the beginning of each fiscal year or period.
(C) Amended declaration.
(1) Such declaration shall be filed upon a form acceptable to the Tax Commissioner; provided, however, credit may be taken in the declaration for the municipal tax to be withheld from any portion of such income and for income tax to be paid to another taxing municipality, township or county for which credit is allowed against the municipal tax,
(2) A declaration may be amended at any time.
(D) Such declaration of estimated tax to be paid to the municipality shall be accompanied by a payment of at least one-quarter of the estimated tax less credit for taxes withheld or paid to another municipality, township or county 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 tax year. However, in the event 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. Failure to file such a declaration or pay at least 25% of the amount declared on the due dates previously specified, shall subject the taxpayer to interest and penalties. Assessments shall begin to run on the day following the due date of such declaration and payments.
(E) The taxpayer shall have the option of basing his estimated tax on either of the following methods:
(1) By basing the estimate on the preceding full year's tax liability, or by annualizing if the preceding tax period was not for a full 12-month period. In such case, if each installment is paid on that basis, no interest or penalty shall apply for underestimate, regardless of the final tax liability, except in the case where the required return and final return payment have not been submitted within the four-month period after the close of the tax year.
(2) By basing the estimate on facts of the preceding three-month period, annualized for the remainder of the year, and updating this estimate by amendment as necessary each succeeding three-month period so that at least 25% of the annual tax liability to be determined shall have been paid by estimate within one month following the close of each such period so applicable. Failure to pay 25% of the tax liability by estimate in the manner so described shall subject the taxpayer to interest and penalties.
(F) Annual return required. On or before the fifteenth day of the fourth month of the year following the end of the calendar or fiscal year, 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 § 91.05.
(Ord. 16-1974, passed 3-4-74; Am. Ord. 27-1983, passed 5-11-83; Am. Ord. 30-1990, passed 10-15-90; Am. Ord. 09-1996, passed 5-20-96; Am. Ord. 01-1998, passed 2-2-98; Am. Ord. 01-2007, passed 1-16-07)