(a) In accordance with rules and regulations prescribed by the Administrator, each employer within or doing business within this Municipality shall deduct at the time of the payment of such salary, wage, commission or other compensation, the tax of one-half of one percent of the gross salaries, wages, commissions or other compensation due by the employer to such employee and shall, on or before the last day of the month following the close of each calendar quarter, make a return and pay to the Administrator the amount of taxes so deducted. Such returns shall be on a form or forms prescribed by or acceptable to the Administrator and shall be subject to the rules and regulations prescribed therefor by the Administrator. Such employer shall be liable for the payment of the tax required to be deducted and withheld, whether or not such taxes have in fact been withheld.
(1) Such employer who deducts the tax in an amount of one hundred dollars ($100.00) or more in the first or second month of a calendar quarter, shall on or before the twentieth day of the following month, pay to the Administrator the amount of taxes so deducted.
(2) Such employer who makes such payments on a monthly basis for the first two months of a calendar quarter shall pay such tax deducted for the third month of a calendar quarter at the regular time for filing the employer's quarterly return of income tax withheld.
(b) Such employer in collecting this tax shall be deemed to hold the same, until payment is made by such employer to this Municipality, as a trustee for the benefit of this Municipality and any such tax collected by such employer from his employees, shall, until the same is paid to this Municipality, be deemed a trust fund in the hands of such employer.
(c) On or before January 31 of each year beginning with the year 1974, each employer shall file a withholding return setting forth the names and addresses of all employees from whose compensation the tax was withheld during the preceding calendar year and the amount of tax withheld from his employees, and such other information as may be required by the Administrator. All payments not subject to withholding shall be reported on a form required by the Administrator.
(d) The taxpayer making the declaration shall, at the time of the filing thereof, pay to the Administrator at least one-fourth of the estimated annual tax due after deducting:
(1) Any portion of such tax to be deducted or withheld at the source pursuant to this section;
(2) Any credits allowable under the provisions of Section 161.14 hereof; and
(3) Any overpayment of previous year's tax liability which taxpayer has not elected to have refunded.
At least a similar amount shall be paid on or before the last day of the sixth, ninth, and thirteenth month after the beginning of taxpayer's taxable year, provided that in case an amended declaration has been duly filed, or the taxpayer is taxable for a portion of the year only, the unpaid balance shall be paid in equal installments on or before the remaining payment dates.
(Ord. 211-94. Passed 12-12-94.)