(a) Date for Filing Returns. On or before April 15, 2008, and on or before April 15 of each year thereafter, each resident of the Village who is eighteen years of age or older shall file an income tax return with the Village and pay the amount due, if any, to the Village as shown thereon. Taxpayers on a fiscal year other than the calendar year shall file their return by the fifteenth day of the fourth month following the end of their fiscal year. Notwithstanding the foregoing, a resident who earns no income subject to the tax levied by this subsection shall be required to file such return only for the first tax year for which they have no taxable income. For all tax years thereafter in which the resident has no taxable income, no tax return shall be required to be filed.
(Ord. 07-19. Passed 5-7-07.)
(Ord. 07-19. Passed 5-7-07.)
(b) Form and Content of Return. The return shall be filed with the Administrator on a form furnished by or obtainable upon request from such Administrator setting forth:
(1) The aggregate amounts of salaries, wages, commissions, and other compensation earned and gross income from business, profession or activity less allowable expenses incurred in the acquisition of such gross income earned during the preceding year and subject to the tax;
(2) The amount of the tax imposed by this chapter on such earnings and profits;
(3) Each taxpayer required to file a municipal income tax return under this chapter, shall attach thereto an accurate and legible copy of all Federal W-2 Forms and all 1099's which show income subject to the tax levied by this section received by the taxpayer for the tax year covered by the municipal income tax return, along with a copy of the front side of the taxpayer's Federal Income Tax Return Form 1040, 1040A, 1040EZ, 1040PC and Federal Schedules C, E, and F if filed.
(4) Such other pertinent statements, information, returns or other information as the Administrator may require.
(5) Husband and wife may elect to file a joint return.
(Ord. 97-60. Passed 11-17-97.)
(c) Consolidated Returns.
(1) On or after January 1, 2003, consolidated income tax returns shall be accepted from any affiliated group of corporations subject to the tax imposed by this section if the affiliated group filed for the same tax reporting period a consolidated return for Federal income tax purposes pursuant to Section 1501 of the Internal Revenue Code.
(Ord. 02-32. Passed 8-5-02.)
(2) In the case of a corporation that carries on transactions with its stockholders or with other corporations with its stockholders or with other corporations related by stock ownership, interlocking directorates or some other method, or in case, any person operates a division, branch, factory, office, laboratory or activity within the Municipality constitute a portion only of its total business, the Administrator shall require such additional information as he may deem necessary to ascertain whether net profits are properly allocated to the Municipality. If the Administrator finds that net profits are not properly allocated to the Municipality by reason of transactions with stockholders or with other corporations related by stock ownership, interlocking directorates or transactions with such division, branch, factory, office, laboratory or activity or by some other method, he shall make such allocation as he deems appropriate to produce a fair and proper allocation of net profits to the Municipality.
(d) Amended Returns.
(1) Where necessary an amended return must be filed in order to report additional income and pay any additional tax due, or claim a refund of tax overpaid, subject to the requirements, limitations, or both, contained in Sections 171.08(b) and 171.09(a) to (e). Such amended return shall be on a form obtainable on request from the Administrator. A taxpayer may not change the method of accounting or apportionment the net profits after the due date for filing the original return.
(2) Within three months from the final determination of any Federal Tax liability affecting the taxpayer's Municipal tax liability, such taxpayer shall make and file an amended Municipal return showing income subject to the Municipal tax based upon such final determination for Federal Tax liability, and pay any additional tax shown due thereon or make claim for refund of any overpayment.
(Ord. 97-60. Passed 11-17-97; Ord. 02-32. Passed 8-5-02.)
(e) Notwithstanding any other provisions of this chapter, any taxpayer may file a generic income tax return, report or other document in lieu of the forms prescribed by this chapter provided the return, report or other document when completed and filed contains all of the information required to be submitted on the prescribed forms and the taxpayer or return preparer filing the generic form otherwise complies with this chapter and the rules and regulations of the Tax Administrator.
(f) Any taxpayer that has requested an extension for filing a federal income tax return may request an extension for the filing of a municipal income tax return. The taxpayer shall make the request by filing a copy of the taxpayer’s request for a federal filing extension with the individual or office charged with the administration of the municipal income tax. The request for extension shall be filed not later than the last day for filing the municipal income tax return as prescribed by ordinance or rule of the municipal corporation. A municipal corporation shall grant such a request for extension for a period not less than the period of the federal extension request. A municipal corporation may deny a taxpayer’s request for extension only if the taxpayer fails to timely file the request, fails to file a copy of the request for the federal extensions, owes the municipal corporation any delinquent income tax or any penalty, interest, assessment, or other charge for the late payment or nonpayment of income tax, or has failed to file any required income tax return, report, or other related document for a prior tax period. The granting of an extension for filing a municipal corporation income tax return does not extend the last date for paying the tax without penalty unless the municipal corporation grants an extension of that date.
(Ord. 00-57. Passed 11-6-00; Ord. 02-32. Passed 8-5-02.)