(A) Each employer within, or doing business within, the municipality, who employs one or more persons on a salary, wage, commission, or other compensation basis, shall deduct, when such salary, wage, commission or other compensation is paid, allocated, or set aside, the tax at the rate provided in § 39.020 on the qualifying wages due by such employer to each such employee and shall, on or before the fifteenth day of the month following such withholding, make a return and payment.
(B) An employer is not required to make any withholding with respect to an individual’s disqualifying disposition of an incentive stock option if, at the time of the disqualifying disposition, the individual is not an employee of the corporation with respect to whose stock the option has been issued.
(C) (1) An employee is not relieved from liability for a tax by the failure of the employer to withhold the tax as required by a municipal corporation or by the employer’s exemption from the requirement to withhold the tax.
(2) The failure of an employer to remit to the municipal corporation the tax withheld relieves the employee from liability for that tax unless the employee colluded with the employer in connection with the failure to remit the tax withheld.
(D) Compensation deferred before the effective date of this amendment is not subject to any municipal corporation income tax or municipal income tax withholding requirement to the extent the deferred compensation does not constitute qualifying wages at the time the deferred compensation is paid or distributed.
(E) So long as taxes withheld by an employer for the municipality during the measurement period, payments may be made quarterly on or before the fifteenth day of the month following the end of each quarter, subject to the approval of the Finance Director. The Finance Director may revoke the approval of quarterly filing and payments whenever the Finance Director has reason to believe that the conditions for granting such authorization have changed, were judged incorrectly, were not met, or when it is in the best interest of the municipality to do so. Notice of withdrawal shall be made in writing and, in such case, the employer must begin to file in accordance with this section.
(‘74 Code, § 93.30) (Ord. 384-A, passed 4-1-71; Am. Ord. 01-1348, passed 1-16-01; Am. Ord. 05-1469, passed 12-21-05)