(A) Requirement for filing. Every person who anticipates any taxable income which is not subject to § 44.06 hereof, or engages in any business, profession, enterprise, or activity resulting in income subject to the tax imposed by this chapter, 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. Provided, however, if a person's income is wholly from qualifying wages from which the tax will be held and remitted to this municipality in accordance with § 44.06, such person need not file a declaration.
(B) Dates for filing.
(1) Such declaration shall be filed on or before April 15 of each year during the life of this chapter, or on or before the fifteenth day of the fourth month following the date the taxpayer first becomes subject to the provisions of this section.
(2) Those taxpayers reporting on a fiscal year basis shall file a declaration on or before the fifteenth day of the fourth month following the start of each fiscal year or period.
(C) Forms, credit for tax withheld or paid another community.
(1) The declaration shall be filed upon a form furnished by, obtainable from the Tax Commissioner or an acceptable generic form. Credit shall be taken for municipal tax to be withheld from any portion of such income. Credit may be taken for tax to be paid to or to be withheld and remitted to another taxing municipality in accordance with § 44.15.
(2) A declaration of estimated tax to be paid the municipality shall be accompanied by a payment of at least 1/4 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 fifteenth day of the fourth month and the last day of the seventh, tenth, and thirteenth months after the beginning of the tax year.
(D) Amended declaration.
(1) A declaration may be amended at any time, provided 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.
(2) If it appears that the original declaration and accompanying payments made for such year underestimated the taxpayer's income by 30% or more, the difference between 70% of the taxpayer's tax liability and the amount of estimated tax he actually paid on or before December 31, or the date fixed by regulation, whichever is applicable, shall be subject to the interest and penalty provisions of § 44.10 hereof.
(E) Annual return required. On or before the fifteenth day of the fourth month following the end 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 the provisions of § 44.05 hereof.
(Ord. 1-1972, passed 1-5-72; Am. Ord. 1-2001, passed 1-24-01; Am. Ord. 1-2005, passed 1-5-05)