(a) Each taxpayer who engages in business, or whose salaries, wages, commissions and other compensation are subject to the tax imposed by this chapter shall, whether or not a tax be due thereon, make and file a return on or before April 15 of each year with the Director of Finance or his delegate on a form furnished by or obtainable from the Director of Finance or his delegate setting forth the aggregate amount of salaries, wages, commissions and other compensation earned and/or net profits earned and/or gross income from such business less allowable expenses in the acquisition of such gross income earned during the preceding year and subject to the tax, together with such other pertinent information as the Director of Finance or his delegate may require. Provided, however, that when the return is made for a fiscal year or other period different from the calendar year, the return shall be made on or before the fifteenth day of the fourth month after the close of the fiscal year or other period.
(Ord. 2-73. Passed 3-26-73.)
(Ord. 2-73. Passed 3-26-73.)
(b) Commencing with taxable years beginning subsequent to December 31, 1981, the net loss from an unincorporated business activity may not be used to offset salaries, wages, commissions or other compensation. However, if a taxpayer is engaged in two or more taxable business activities to be included in the same return, the net loss of one unincorporated business activity, except any portion of a loss separately reportable for municipal tax purposes to another taxing entity, may be used to offset the profits of another for purposes of arriving at overall net profits. A husband and wife, in any taxable year, may elect to file separate or joint returns.
(Ord. 33-82. Passed 9-27-82.)
(Ord. 33-82. Passed 9-27-82.)
(c) A husband and wife, in any taxable year, may elect to file separate or joint returns. If joint returns are filed, a husband or wife may offset losses from any business or professional activity when conducted in this City or in any municipality that does not levy an income tax on net profits therefrom.
(d) If a net operating loss has been sustained in any taxable year, such loss may not be carried forward or backward to any other taxable year.
(e) The taxpayer making a return shall at the time of the filing thereof, pay to the City the amount of taxes shown as due thereon; provided, however, that where any portion of the tax so due shall have been deducted at the source pursuant to the provisions of Section 181.07
or where any portion of the tax has been paid by the taxpayer pursuant to the provisions of Section 181.08
or where an income tax has been paid to another municipality, credit for the amount so paid in accordance with Section 181.13
(a) shall be deducted from the amount shown to be due and only the balance, if any, shall be due and payable at the time of filing the return.
(f) A taxpayer who has overpaid his income tax in any taxable year may request a refund provided, however, there is no other tax liability and provided, further, that no amount of less than one dollar ($1.00) will be refunded or collected.
(g) The Director of Finance or his delegate shall have the authority to extend the time for filing of the annual return upon the request of the taxpayer for a period not to exceed six months, or one month beyond any extension requested of or granted by the Internal Revenue Service for the filing of the Federal Income Tax Return. The Director of Finance or his delegate may require a tentative return, accompanied by payment of the amount of tax shown to be due thereon by the date the return is normally due. No penalty or interest shall be assessed in those cases in which the return is filed and the final tax paid within the period as extended.
(Ord 2-73. Passed 3-26-73.)
(Ord 2-73. Passed 3-26-73.)