(a) Every person who anticipates any taxable income which is not subject to § 882.12, 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.
(b) Such declaration shall be filed on or before April 30 of each year during the life of this chapter, or within four months of the date the taxpayer first becomes subject to this section.
(c) Those taxpayers reporting on a fiscal year basis shall file a declaration within four months after the start of each fiscal year or period.
(d) Such declaration shall be filed upon a form furnished by or obtainable from the Tax Commissioner. Credit shall be taken in such declaration for the municipal tax to be withheld from any portion of such income and for income taxes to be paid to another taxing municipality for which credit is allowed against the municipal tax under § 882.21.
(e) A declaration of estimated tax to be paid the municipality shall be accompanied by a payment of at least one fourth of the estimated tax, less credit for taxes withheld or paid to another municipality, and at least a similar amount shall be paid on or before the last day of the seventh, tenth and thirteenth months after the beginning of the tax year.
(f) A declaration may be amended at any time, provided, however, that in 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.
(g) An amended declaration must be filed on or before April 15 of any year, or, in the case of a taxpayer on a fiscal year accounting basis, on or before the date fixed by regulation of the Tax Commissioner, if it appears that the original declaration made for such year underestimated the taxpayer’s income by 30 percent or more. At such time, a payment which, together with prior payments, is sufficient to pay the taxpayer’s entire estimated liability shall be made. If, upon the filing of the return required by § 882.10, it appears that the taxpayer did not pay 70 percent of his or her tax liability, as shown on such return, on or before April 15, or the date fixed by regulation, whichever is applicable, the difference between 70 percent of the taxpayer’s liability and the amount of estimated tax he or she actually paid on or before April 15, or the date fixed by regulation, whichever is applicable, shall be subject to the interest and penalty provisions of § 882.16.
(h) On or before the last day of the fourth month of the calendar or fiscal year following that for which the declaration was filed, an annual return shall be filed and any balance which may be due the municipality shall be paid therewith in accordance with § 882.10.
(Ord. 1455, passed 5-17-1967; Am. Ord. 2006-78, passed 12-19-2006) Penalty, see § 880.99