(A) Each person who engages in business, or whose salary, wages, commissions, and other compensation are subject to the tax imposed by this chapter shall, whether or not a tax be due thereon, make and file on or before April 30 of each year a return with the village on a form or forms furnished or obtained upon request setting forth:
(1) The aggregate amount of salaries, wages, commissions, and other compensation earned by him and income from such business, less allowable expenses incurred in the acquisition of such gross income, during the preceding year and subject to said tax;
(2) The amount of the tax imposed by this chapter; and
(3) Such other pertinent statements, information returns, or other information as the Tax Commissioner requires, including a statement that the figures used in the return for federal income tax, adjusted to set forth only such income as is taxable under the provisions of this chapter.
(B) A taxpayer on a fiscal year accounting basis for federal tax purposes shall, beginning with his first fiscal year, any part of which falls within the tax period, pay the tax on the basis of his fiscal year and shall file his annual returns within four months from the end of his fiscal year.
(C) (1) The Tax Commissioner may extend the time for filing of the annual return, upon the written request of the taxpayer, for a period of not to exceed three months, or one month beyond any extension requested of and granted by the internal revenue service for the filing of the federal income tax return.
(2) Extensions may be granted beyond the above, subject to approval of the Board of Review.
(D) The taxpayer making such return shall, at the time of the filing thereof, pay to the village the amount of taxes shown as due thereon, provided, however, that where any portion of the tax so due shall have been deducted at the source, pursuant to the provisions of § 40.06, or where any portion of said tax shall have been paid by the taxpayer, pursuant to the provisions of § 40.07, 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 said return. Should it then appear that the taxpayer has paid more than the amount of tax, to which the village is entitled under the provisions of this chapter, such over payment shall be refunded, or at the option of the taxpayer, credited to his next year's tax liability, provided, however, that no additional taxes or refunds of less than $1 shall be collected or refunded. Within three months from the final determination of any federal tax liability affecting the taxpayer's village tax liability, such taxpayer shall make and file an amended village return showing income subject to the village tax based upon such final determination of federal tax liability, and pay any additional tax shown due thereon or make claim for refund of any over payment.
(E) The Tax Commissioner is hereby authorized to accept the return of an employer or employers, showing the total of amount of tax deductible by said employer or employers from the salaries, wages, commissions, or other compensation of employees, and paid by him or them to the village income tax department as the return required of any employee whose sole income, subject to the tax or taxes under this ordinance, is such salary, wages, commissions, or other compensation.
(F) A corporation may, at its option, make a consolidated return, if that affiliated group of corporations filed a consolidated return with the Internal Revenue Service pursuant to Section 1501 of the Internal Revenue Code.
(G) An adjustment made to a tax return by the Department of Taxation, after the return has been filed in good faith by the taxpayer, will not be made by the Department if the result of the adjustment is equal to or less than $5 as underpayment or overpayment of tax.
(Ord. 1973-7-14, passed 9-11-73; Am. Ord. 2000-11-28, passed 12-12-00)