(a) Every taxpayer who anticipates any taxable income which is not subject to the provisions of Section 181.06
hereof shall file a declaration of the estimated tax for each calendar year on or before April 30th of each ensuing year for the duration of the taxes referred to herein.
(Ord. 10-95. Passed 6-6-95.)
(b) Such declarations shall be filed upon a form prescribed by the Village Tax Coordinator or the Designated Collecting Agent, which form may simply state that the figures used in making such declaration are the figures used in making the declaration of the estimate for the Federal Income Tax, provided that it is understood that such figures may be modified according to the provisions of this chapter so that the declaration required by this section shall set forth only such income as is taxable under the provisions of this chapter.
(c) The declaration to be filed on April 30th of each year shall be accompanied by payment of at least one-fourth (1/4) of the estimated annual tax. At least a similar amount shall be paid on or before the last day of the sixth, ninth, and thirteenth month after the beginning of the taxable year. Provided, however, that such estimate may be amended at the time of the making of any quarterly payment, and further provided that on or before April 30th of the year following that for which declaration was filed, a final return shall be filed and any balance which may be due the Village of North Baltimore shall be paid therewith. Should it appear that such taxpayer has paid more than the amount of tax to which the Village is entitled, a refund of the amount so overpaid shall be made, or same may be applied toward the declaration tax due and obtainable from the Designated Collecting Agent. (Ord. 45-95. Passed 12-19-95.)
(d) The failure of a taxpayer to pay the lesser of one of the two following amounts, to wit: an amount equal to eighty percent (80%) of the total tax due for the current year, or in the alternative, an amount equal to one hundred percent (100%) of the total tax due by said taxpayer for the last preceding tax year, on or before the last day of the thirteenth month after the beginning of the current taxable year shall subject said taxpayer to the penalty and interest provisions of Section 181.10.
(Ord. 10-95. Passed 6-6-95.)
(Ord. 10-95. Passed 6-6-95.)