(a) Every person who anticipates any taxable income which is not subject to Section 181.04, or who engages in any business, profession, enterprise or activity 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, and if the amount can be reasonably expected to exceed one hundred dollars ($100.00).
(b) (1) Such declaration shall be filed on or before April 15 (effective 1/1/03) of each year during the life of this chapter, or within four months of the date the taxpayer first becomes subject to the provisions of this section.
(Ord. 87-01. Passed 11-19-01.)
(2) Those taxpayers reporting on a fiscal year basis shall file a declaration by the fifteen (15th) day of the fourth month after the start of each fiscal year or period.
(Ord. 94-2011. Passed 12-19-11.)
(Ord. 94-2011. Passed 12-19-11.)
(c) (1) Such declaration shall be filed upon a form prescribed by or acceptable to the Tax Commissioner. Credit shall be taken in such declaration for the City tax to be withheld from any portion of such income and for income taxes to be paid to another taxing city for which credit is allowed against the Heath City tax. (Ord. 87-01. Passed 11-19-01.)
(2) A declaration of estimated tax paid to the City shall be accompanied by a payment of at least one-fourth of the estimated tax; less credit for tax withheld or paid to another city and at least a similar amount shall be paid on or before the last day of the seventh, tenth, and thirteenth month after the beginning of the tax year for individual taxpayers. For taxpayers who are not individuals, the remaining payments of at least a similar amount shall be paid on or before the fifteenth of the sixth, ninth and twelfth months after the beginning of the taxable calendar year or taxable fiscal year, if applicable. (Ord. 98-2011. Passed 1-3-12.)
(3) A declaration may be amended at any time, provided, however, that in the case an amended declaration is filed, the unpaid balance shown due thereon shall be paid in equal installments on or before the remaining payment dates.
(d) An amended declaration must be filed on or before December 31, of any year, or in the case of a taxpayer on a fiscal year accounting basis, on or before the dates fixed by the Tax Commissioner, if it appears that the original declaration made for such year underestimated the taxpayer’s income by ten percent (10%) or more. At such time a payment which, together with prior payment, is sufficient to pay the taxpayer’ entire estimated liability, shall be made. If, upon the filing of the return it appears that the taxpayer did not pay ninety percent (90%) of his tax liability, as shown on such return, on or before December 31, or the date fixed by the Tax Commissioner, whichever is applicable, he shall be subject to the interest and penalty provisions.
(Ord. 87-01. Passed 11-19-01.)