(a) Every taxpayer who anticipates any income which is not subject to Section 181.06 shall file a declaration of the estimated tax for the taxable year of 1992. Such declaration shall be filed by the taxpayer on or before April 15, 1992, and thereafter a similar declaration shall be filed by all such taxpayers for each calendar year on or before April 15 of each ensuing year for the duration of the tax imposed by this chapter.
(b) Such declaration shall be filed upon a form prescribed by the Income Tax Clerk, or on generic forms deemed acceptable by the Income Tax Clerk.
(c) Such declaration to be filed on April 15 of each year shall be accompanied by payment of at least one-fourth of the estimated annual tax and, in the case of individuals, at least a similar amount shall be paid on or before the last day of the 7th month (July), the 10th month (October) and the 13th month (January), after the beginning of the tax year. Estimated tax to be paid to the Village of North Kingsville by corporations and associations shall be accompanied by a payment of at least one-fourth of the estimated annual tax and at least a similar amount shall be paid on or before June 15, September 15, and December 15th. In the case of a fiscal year taxpayer the second, third, and fourth quarterly estimated payments shall be due on the fifteenth day of the sixth, ninth, and twelfth months of the taxable year, respectively. If amended declarations have been filed, whether by individuals, corporations, or associations, the unpaid balance shown due thereon shall be paid in equal installments on or before the remaining payment dates. On or before April 15 of the year following that for which the declaration was filed, a final return shall be filed and any balance which may be due the Village of North Kingsville shall be paid therewith.
(d) No penalties or interest shall be assessed, for not filing a declaration, on any resident taxpayer who was not domiciled in the Village of North Kingsville on the first day of January in the year in which they became subject to estimated payments, nor shall penalties or interest be assessed on estimated payments if the taxpayer has remitted an amount equal to one hundred percent of the previous year”s tax liability, provided that the previous year reflected a twelve-month period.
(Ord. O-04-038. Passed 7-6-04.)