(a) Each taxpayer who engages in business, or whose salaries, wages, commissions and other compensation are subject to the tax imposed by this chapter and all residents of Milan with income subject to the tax shall, whether or not a tax be due thereon, make and file a return on or before April 15 of each year with the Tax Administrator or such other official as may be designated by Council. Provided, however, that when the return is made for a fiscal year or other period different from the calendar year, the return shall be filed within three months and fifteen days from the end of such fiscal year or other period. This should be done on a form furnished by or obtainable from the Tax Administrator, setting forth the aggregate amount of salaries, wages, commissions and other compensations earned by the taxpayer and/or gross income from such business, less allowable expenses incurred in the acquisition of such gross income, earned during the preceding year and subject to the tax, together with such other pertinent information as the Tax Administrator may require. Copies of federal forms, or schedules or portions thereof, used to determine income subject to Milan tax shall be attached to the Milan Tax Return. A return is considered timely filed if received or postmarked on or before the due date. The return shall also show the amount of the tax imposed by this chapter on such earnings and profits. The taxpayer making the return shall, at the time of the filing thereof, pay to the Tax Administrator the amount of taxes shown as due thereon.
(b) Provided further, however, that where any portion of the tax due shall have been withheld by an employer and shall have been paid to the Tax Administrator by the employer making such deduction pursuant to the provisions of Section 197.05 or where any portion of such tax shall have been paid on an estimated basis by such taxpayer pursuant to the provisions of Section 197.07, credit for the amount so paid shall be deducted from the amount shown to be due and only the balance, if any, shall be due and payable at the time of filing the return. Should it then appear that the taxpayer has overpaid the amount of the tax to which the Village is entitled on the taxpayer's Milan taxable income, under the provisions of this chapter, such overpayment shall be applied against any subsequent liability hereunder, or, at the election of the taxpayer and so indicated on the return, such overpayment (or part thereof) shall be refunded. Provided, however, that no additional taxes or refunds of less than one dollar ($1.00) shall be collected or refunded.
(c) Within thirty days from the final determination of any change to Federal, State, or Local tax liability affecting taxpayer's Milan tax liability, such taxpayer shall make and file an amended Milan return showing income subject to Milan tax based upon such final determination and pay any additional tax shown due thereon or make claim for refund of any overpayment.
(d) Extension of time for filing returns. Taxpayers granted extensions of time for filing their federal income tax returns have automatic extensions of time for filing their Village of Milan Tax Returns, provided the following conditions are met. If the extension granted by the IRS is an automatic extension, a copy of the federal extension application must be submitted with the Milan return. If the federal extension is not automatic, a copy of the approved federal extensions must be submitted with the Milan return.
The extended date for filing the Milan return will be the same as the extended date on the federal form regardless of the original due date of the tax return. Interest at the rate of one-half percent (1/2%) per month or portion thereof will be charged from the original due date of the return until date of actual payment provided payment in full is received on or before the extended date.
If a taxpayer fails to file a tax return by the extended date, interest will be assessed from the original due date of the return.
(e) All individuals, businesses, employers, brokers or others who are required under the Internal Revenue Code to furnish forms 1099 to the IRS for individuals or businesses to whom or which they have paid nonemployee compensation, shall furnish copies of the form 1099's to the Tax Administrator or in lieu thereof, a listing containing the same information as required by IRS on the 1099's on or before the due date for such forms 1099's as established by the IRS.
(Ord. 844-7-90. Passed 7-10-90)