(a) Requirement for Filing. Every person who anticipates an annual tax liability to Fremont of one hundred dollars ($100.00) or more on taxable income which is not subject to withholding by an employer or who engages in any business, profession, enterprise or activity subject to the tax imposed by Section 171.03, 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. The estimated tax due must equal at least eighty percent (80%) of the tax to be shown on the current year’s tax return. An estimate of one hundred percent (100%) of the tax shown on the prior year’s tax return may be used if the prior year’s tax return covered a twelve-month period. Provided, however, if a person’s income is wholly from qualifying wages from which the tax will be withheld and remitted to this Municipality in accordance with Section 171.06, such person need not file a declaration.
(b) Dates for Filing.
(1) Such declaration shall be filed on or before April 15 of each year during the life of this Chapter, or on or before the fifteenth (15th ) day of the fourth (4th) month following the date the taxpayer becomes subject to tax for the first time.
(2) Those taxpayers having a fiscal year or period differing from the calendar year shall file a declaration on or before the fifteenth (15th) day of the fourth (4th) month following the start of each fiscal year or period.
(c) Forms; Credit for Tax Withheld or Paid Another Community.
(1) Such declaration shall be filed upon a form furnished by or obtainable from the Tax Administrator or an acceptable generic form, and credit shall be taken for the Municipal tax to be withheld from any portion of such income. In accordance with the provisions of Section 171.15, credit may be taken for tax to be withheld and remitted to another taxing municipality.
(2) The original declaration (or any subsequent amendment thereof) may be increased or decreased on or before any subsequent quarterly payment date as provided for herein.
(3) For taxpayers who are individuals, such declaration of estimated tax to be paid the Municipality shall be accompanied by a payment of at least one-fourth of the estimated annual tax 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 taxable year.
(4) For taxpayers that are not individuals, such declaration of estimated tax to be paid the Municipality shall be accompanied by a payment of at least one-fourth of the estimated annual tax 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 taxable year.
(5) The mere submission of a declaration estimating a tax liability shall not constitute filing unless accompanied by the required payment.
(d) Amended Declaration.
(1) A declaration may be amended at any time.
(2) In the event that 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.
(e) Annual Return Required. On or before the fifteenth (15th) day of the fourth month 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 Section 171.05.
(Ord. 2007-3443. Passed 6-7-07.)