(a) Every taxpayer who anticipates any taxable income subject to the provisions hereof, but which is not subject to Section 880.06, or who engages in any business, profession, enterprise or activity subject to the tax imposed by Section 880.03, shall file a declaration setting forth such estimated income or the estimated profit or loss from such business activity, together with the estimated tax due thereon, if any, upon a form furnished by or obtainable from the Commissioner of Taxation. Such declaration shall be filed on or before April 15th of each year or within three months and fifteen days of the date that the taxpayer becomes subject to tax for the first time.
(1) Credit shall be taken for City income tax to be withheld, if any, from any portion of such income. In addition, credit may be taken for the tax payable to other taxing municipalities in accordance with the provisions of Section 880.15.
(2) The original declaration or any subsequent amendment thereof may be increased or decreased on or before any subsequent quarterly payment date as provided for herein.
(b) The taxpayer making the declaration shall, at the time of the filing thereof, pay to the Commissioner at least twenty-two and one-half percent (22-1/2%) of the estimated annual tax due after deducting:
(1) Any portion of such tax to be deducted or withheld at the source pursuant to Section 880.06.
(2) Any credits allowable under the provisions of Section 880.15, and
(3) Any overpayment of previous year's tax liability which the taxpayer has not elected to have refunded.
(c) The declarations for the 2nd, 3rd, and 4th quarters shall be due on July 31st and October 31st of the current year and on January 31st of the subsequent year. The amounts due on those dates are not to exceed forty-five percent (45%), sixty-seven and one-half percent (67-1/2%) and ninety percent (90%) respectively of the tax estimated to be due.
(d) Taxpayers reporting on a fiscal year basis shall file a Declaration within four months after the beginning of each fiscal year and thereafter at the end of the 7th, 10th, and 13th months.
(e) Notwithstanding any provision or requirement of this chapter to the contrary, if a taxpayer resides or proposes to reside in the City, or engages in business or proposes to engage in business therein, for a period of less than three months, or if the Commissioner determines that the residence of any taxpayer in the City, or the period during which any taxpayer will engage in business in the City, may reasonably be expected to be less than three months, the Commissioner may require any such taxpayer to file a declaration and/or a return within such time as the Commissioner may reasonably fix and to pay or secure the payment of any tax due or to become due and/or any tax withheld or required to be withheld during the period of residency or engagement in business, or the period of residency or engagement in business as estimated by the Commissioner.
(f) The provisions of this section shall be effective from and after January 1, 1967. The date or dates fixed by the Commissioner for filing declarations and/or for making payments or posting security for payments of taxes pursuant to subsection (d) hereof shall be in lieu of the dates for such filing or payment specified for taxpayers generally in this chapter.
(Ord. 94-58. Passed 11-22-94; Ord. 2004-5. Passed 2-12-04.)