(a) Requirement for filing. Every person who anticipates any taxable income which is not subject to § 181.06 hereof, or engages in any business, profession, enterprise, or activity subject to the tax imposed by § 181.03 hereof, shall file a declaration setting forth the estimated income or the estimated profit or loss from the business activity, together with the estimated tax due thereon, if any.
(b) Dates for filing.
(1) The declaration shall be filed on or before April 30 of each year, and on or before April 15 for taxable years 2005 and later, during the life of this chapter. No penalties or interest shall be assessed, for not filing a declaration, on any resident taxpayer who was not domiciled in the municipality on January 1 in the year in which they became subject to estimated payments, nor shall penalties or interest be assessed on estimated payments if the taxpayer has remitted an amount equal to 100% of the previous year’s tax liability, provided that the previous year reflected a 12-month period.
(2) Those taxpayers reporting on a fiscal year basis shall file a declaration within four months after the start of each fiscal year or period, and within 105 days for taxable years 2005 and later.
(c) Forms – credit for tax withheld or paid another community.
(1) The declaration shall be filed upon a form furnished by or obtainable from the Tax Commissioner, or on other forms deemed acceptable by the Tax Commissioner. Credit shall be taken in the declaration for the city tax to be withheld from any portion of the income and for income taxes to be paid to another taxing municipality for which credit is allowed against the city tax under § 181.15 hereof.
(2) Effective January 1, 2003, the declaration of estimated tax to be paid the municipality by taxpayers who are individuals shall be accompanied by a payment of at least one-fourth of the estimated tax and at least a similar amount shall be paid on or before July 31 and October 31 of the taxable year, and January 31 of following year.
(3) Effective January 1, 2003, the declaration of estimated tax to be paid to the municipality by corporations and associations shall be accompanied by a payment of at least one-fourth of the estimated tax and at least a similar amount shall be paid on or before June 15, September 15 and December 15. In the case of a fiscal year taxpayer the second, third and fourth quarterly estimated payments shall be due on the fifteenth day of the sixth, ninth and twelfth months of the taxable year, respectively.
(d) Amended declaration.
(1) An amended declaration must be filed on or before January 31 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 the year underestimated the taxpayer’s income by 30% or more. At such times a payment which, together with prior payments, is sufficient to pay taxpayer’s entire estimated liability, shall be made. If less than 90% of the estimated annual tax liability has been received by the municipality by January 31, and the amount received is less than 100% of the previous year’s tax liability, the difference between the amount received and 90% of the tax liability shall be subject to the interest and penalty provisions of § 181.10 hereof.
(2) 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.
(e) Annual return required. On or before the last day of the fourth month of the calendar or fiscal year following that for which the declaration was filed for taxable years 2004 and prior, and within 105 days of the calendar year or fiscal year for taxable years 2005 and later, an annual return shall be filed and any balance which may be due the municipality shall be paid therewith in accordance with the provisions of § 181.05 hereof.
(Ord. 2004-154, passed 12-13-2004)