A. Requirement of filing.
1. A declaration of estimated tax shall be filed by every taxpayer who may reasonably be expected to have taxable income, the tax on which is not or will not be withheld by an employer or employers. Where required such declaration shall be filed within four months after the beginning of the taxable year.
2. A taxpayer's final return for the preceding year may be used as the basis for computing his declaration of estimated tax for the current year. In the event a taxpayer has not previously been required to file a return, a declaration of estimated tax on anticipated income shall be filed in good faith.
B. Date of filing.
1. A person or other entity conducting a business not previously subject to the tax, or whose employer does not withhold the tax shall file a declaration within four months after the date he becomes subject to the tax.
2. Those taxpayers having a fiscal year or period differing from the calendar year shall file a declaration within four months after the start of each fiscal year or period.
C. Form for filing.
1. Such declaration shall be filed upon a form or forms furnished by, or obtainable from the Commissioner, provided, however, that credit shall be taken for the village tax to be withheld from any portion of such income. In accordance with the provisions of § 40.14, credit may be taken for tax to be withheld and remitted to another taxing municipality.
2. The original estimate of tax liability or any subsequent amendment thereof may be increased or decreased by filing an amended declaration on or before any quarterly payment date as set forth in Article VII.D.1. Such amendment may be made on the regular declaration form or on the back of any quarterly notice form.
D. Dates of payments.
1. The estimated tax may be paid in full with the declaration or in equal installments on or before the last day of the fourth, seventh, tenth, and thirteenth month after the beginning of the taxable year.
2. The declaration must be accompanied by at least one-fourth of the estimated tax shown due thereon.
3. In the event an amended declaration has been filed, the unpaid balance shown due thereon shall be paid in equal installments over the remaining payment dates.
E. Final returns required.
1. The filing of a declaration does not relieve the taxpayer of the necessity of filing a final return even though there is no change in the declared tax liability. A final return must be filed to obtain a refund of any overpayment of over $1.