(a) Every person who anticipates any taxable income which is not subject to Section 181.07, or who engages in any business, profession, enterprise or activity subject to the tax imposed by Sections 181.02(c) and (d) 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; provided, however, if a person's income is wholly from qualifying wages, from which the tax will be withheld and remitted to the City in accordance with Section 181.07, such person need not file a declaration.
(b) 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 month the taxpayer becomes subject to tax for the first time.
(c) Those taxpayers reporting on a fiscal year basis shall file a declaration on or before the fifteenth (15th) day of the fourth month after the beginning of each fiscal year or period.
(d) Such declaration shall be filed upon a form furnished by or obtainable from the Director of Finance or on an acceptable generic form, provided, however, credit shall be taken for the City tax to be withheld from any portion of such income. In accordance with the provisions of Section 181.13, credit may be taken for tax to be paid to or to be withheld and remitted to another taxing municipality.
(e) The original declaration, or any subsequent amendment thereof, may be increased or decreased on or before any subsequent quarterly payment day as provided for herein.
(f) Such declarations of estimated tax to be paid the City shall be accompanied by a payment of at least one-forth of the estimated annual tax, and at least a similar amount shall be paid on or before the last day of the sixth, ninth and twelfth months after the beginning of the taxable year, provided, however, that in case 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.
(1) Beginning July 1, 2006, the declaration of estimated tax to be paid to the City by taxpayers who are individuals shall be accompanied by a payment of at least twenty-two and one half percent (22.5%) of the declaration amount and at least a similar amount shall be paid on or before July 31 and October 31 of the taxable year, and January 31 of the following year.
(2) Beginning July 1, 2006, the declaration of estimated tax to be paid to the City by taxpayers who are not individuals shall be accompanied by a payment of at least twenty-two and one-half percent (22.5%) of the declaration amount and at least a similar amount shall be paid on or before the last day of the sixth, ninth, and twelfth months of the taxpayer's taxable year.
(g) On or before the fifteenth (15th) day of the fourth month of the year following that for which such declaration or amended declaration was filed, an annual return shall be filed and any balance which may be due the City shall be paid therewith in accordance with the provisions of Section 181.05.
(h) A declaration of estimated tax that is less than eighty percent (80%) of the tax as shown on the final return shall not be considered filed in good faith. The difference shall be subject to penalties and interest as provided in Section 181.16.
(Ord. 05-38. Passed 10-3-05.)