(a) An employee whose entire wages, salaries, or other compensation for any taxable year will be subjected to the withholding provisions under Section 880.21, whose tax will accordingly be withheld as to his or her entire earnings for such year by his or her employer, and who during such taxable year expects to derive no other compensation or other income which is subject to tax under the Ordinance, need not file a declaration as provided in this section.
(Res. 580. Passed 12-8-70.)
(b) All other taxpayers (as defined in this chapter) subject to the taxes imposed in Section 880.02, who anticipate any income or net profits not subject to total withholding as provided in the preceding paragraph, and the anticipated amount of taxes owed is at least $100.00, shall file with the Clerk-Treasurer a declaration of his or her estimated tax as follows:
(1) On or before April 30 of every calendar year, file a declaration of his or her estimated tax for the taxable period.
(2) Each such declaration shall contain a statement of the taxpayer's estimated tax for the full taxable year in which such declaration is filed.
(c) Taxpayers who or which are permitted, pursuant to the provisions of Section 880.19(h), to return and pay their tax upon a fiscal year basis, shall file their first declaration by the fifteenth day of the fourth month after the beginning of the first fiscal year and the subsequent declaration for each year thereafter on or before the fifteenth day of the fourth month following the beginning of each such fiscal year. Those taxpayers on a fiscal year basis shall make estimated payments on or before the fifteenth day of the fourth month and on or before the fifteenth day of the sixth, ninth and twelfth month following the beginning of such fiscal year. The first installment, equal to at least 22 ½% of the estimated tax, must accompany the declaration. At least 90% of the estimated tax due must be paid by the fifteenth day of the twelfth month.
(d) The estimated tax for a calendar year taxpayer may be paid in full with the filing of the declaration, or in equal installments on or before April 30, July 31, October 31, and January 31. At least 90% of the estimated tax due can be paid by January 31. (Ord. 00-025. Passed 8-1-00; Ord. 07-008. Passed 6-5-07.)
(e) The declarations so required shall be filed upon a form furnished by or obtainable from the Clerk-Treasurer. Any taxpayer who has filed an estimate for Federal Income Tax purposes may, in making the declaration required hereunder, simply state therein that the figures therein contained are the same figures used by the taxpayer in making the declaration of his or her estimate for the Federal Income Tax. However, in addition to such statement, any such taxpayer may, in such declaration, modify and adjust such declared income so as to exclude therefrom income which is not subject to tax under this chapter.
(f) 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 880.27. (Res. 580. Passed 12-8-70; Ord. 07-008. Passed 6-5-07.)