(a) An employee whose entire wages, salaries or other compensation for any taxable year will be subjected to the withholding provisions under Section 183.16 to 183.18 whose tax will accordingly be withheld as to his entire earnings for such year by his employer, and who during such taxable year expects to derive no other compensation or other income which is subject to tax under this Chapter, need not file a declaration as provided in this section.
(b) Every person who anticipates any taxable income which is not subject to withholding or who engages in any business, profession, enterprise or activity subject to the tax imposed by Section 181.03, 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.
(1) On or before September 30, 1978, every such taxpayer shall file a declaration of his estimated tax for the taxable period beginning June 1, 1978, and ending December 31, 1978.
(2) A similar declaration shall be filed on or before April 15 of each year or on or before the fifteenth (15th) day of the fourth (4th) month following the date the taxpayer becomes subject to the tax for the first time.
(3) 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.
(4) The estimated tax may be paid in full with the declaration or in equal installments:
A. 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.
B. 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 fifteenth (15th) day of the sixth, ninth and twelfth months after the beginning of the taxable year.
(5) The declarations so required shall be filed upon a form furnished by, or obtainable from the Tax Administrator.
(6) Any estimate filed hereunder may be amended by the filing of an amended estimate at the time prescribed for the payment of any installment of tax paid in accordance with Section 183.20.
A. Each installment must equal at least twenty-five percent (25%) of the lesser of ninety percent (90%) of the tax shown on the current year's tax return or one hundred percent (100%) of the tax shown on the return for the preceding tax year.
B. The amount of tax for the current year would be less than fifty dollars ($50.00).
C. The taxpayer is an individual who resides in the City, but was not domiciled there on the first day of January of the current calendar year.
(Ord. 2003-79. Passed 12-2-03.)
(Ord. 2003-79. Passed 12-2-03.)