(a) An employee whose entire wage, salary or other compensation for any taxable year will be subjected to the withholding provisions under Section 880.06, 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 this chapter, need not file a declaration as provided in this section.
(b) All other taxpayers subject to the taxes imposed in Section 880.02, and every taxpayer who anticipates any income or net profits not subject to total withholding as provided in subsection (a) hereof, shall file with the Clerk-Treasurer a declaration of his or her estimated tax as follows:
(1) On or before April 15, 1980, every such calendar year taxpayer shall file a declaration of his or her estimated tax for the taxable period beginning January 1, 1980, and ending December 31, 1980.
(2) A similar declaration shall be filed by each such calendar year taxpayer on or before April 15 of each subsequent year during the effective period of this chapter, and 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 Section 880.04, to return and pay their tax upon a fiscal year basis, shall file their first declaration within three and one-half months after the beginning of the first fiscal year beginning on and after January 1, 1979, 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 quarterly payments on or before the fifteenth day of the fourth month and on or before the last day of the sixth, ninth and twelfth months following the beginning of such fiscal year. The first installment, equal to at least one-fourth of the estimated tax, must accompany the declaration.
(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 15, June 30, September 30 and December 31.
(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 this section.
(Ord. 654. Passed 12-5-78.)