(a) An employee whose entire wages, salaries, or other compensation for any taxable year will be subjected to the withholding provisions under Section 183.10, whose tax will accordingly be withheld as to his entire earnings for such year by his employer, and who during such taxable year expects to derive no other compensation or other income which is subject to tax under Chapter 181, need not file a declaration as provided in this section.
(b) All other taxpayers (as defined in Chapter 181 and in these regulations) subject to the taxes imposed in Section 181.03, and every taxpayer who anticipates any income or net profits not subject to total withholding as provided in subsection (a) hereof, shall file with the Finance Director a declaration of his estimated tax.
(c) On or before November 15, 1968, every such calendar year taxpayer shall file a declaration of his estimated tax for the taxable period beginning October 1,1968 and ending December 31, 1968.
(d) A similar declaration shall be filed by each such calendar year taxpayer on or before April 15 of each subsequent year during the life of Chapter 181, and each such declaration shall contain a statement of the taxpayer’s estimated tax for the full taxable year in which such declaration is filed.
(e) Taxpayers who or which are permitted, pursuant to the provisions of Section 183.07, to return and pay their tax upon a fiscal year basis, shall file their first declaration within 3-1/2 months after the beginning of the first fiscal year beginning after October 1, 1968, and the subsequent declaration for each year thereafter on or before the fifteenth day of the fourth month following the beginning of each such fiscal year. Those taxpayers on a fiscal year basis shall make quarterly payments on or before the fifteenth day of the fourth month and on or before the last day of the sixth, ninth and twelfth month following the beginning of such fiscal year. The first installment, equal to at least one-fourth of the estimated tax, must accompany the declaration.
(f) The estimated tax for a calendar year taxpayer may be paid in full with the filing of the declaration or in equal installments on or before April 15, June 30, September 30 and December 31.
(g) The declaration so required shall be filed upon a form furnished by or obtainable from the Finance Director. Any taxpayer who has filed an estimate for Federal income tax purposes may, in making the declaration required hereunder, simply state therein that the figures therein contained are the same figures used by the taxpayer in making the declaration of his estimate for the Federal income tax. However, in addition to such statement, any such taxpayer may, in such declaration, modify and adjust such declared income so as to exclude therefrom income which is not subject to tax under Chapter 181.
(h) Any estimate filed hereunder may be amended by the filing of an amended estimate at the time prescribed for the payment of any installment of tax paid in accordance with Section 183.15. (Res. 128. Passed 9-3-68.)