(a) Every person who anticipates any taxable income which is not subject to the provisions of Section 181.06 hereof, or who engages in any business, profession, enterprise or activity subject to the tax imposed by Section 181.03 hereof, shall file a declaration setting forth the estimated income or the estimated profit or loss from such business activity together with the estimated tax due thereon, if any; provided, however, that if a person's income is wholly from wages from which the tax will be withheld and remitted to the City of Norwood in accordance with Section 181.06 hereof, such person need not file a declaration.
(b) (1) Such declaration shall be filed on or before April 15th of each year during the life of this ordinance, or within four (4) months of the date the taxpayer becomes subject to tax for the first time.
(2) Those taxpayers reporting on a fiscal year basis shall file a declaration by the 15th day of the 4th month after the beginning of each fiscal year or period.
(c) (1) The declaration shall be filed upon a form furnished by or obtainable from the Tax Commissioner or on a generic form provided for in Section 181.05(c); provided, however, that credit may be taken in the declaration for the City of Norwood's income tax to be withheld from any portion of such income. Credit may also be taken for tax to be paid to or withheld and remitted to another taxing municipality, county or Joint Economic Development District in accordance with the provisions of Section 181.17 hereof.
(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.
(d) Such declaration or estimated tax to be paid to the City of Norwood shall be accompanied by a payment of at least one fourth (1/4) of the estimated annual tax, less any credit for taxes withheld and paid to another municipality, and at least a similar amount shall be paid on or before the last day of the sixth, ninth and twelfth months after the beginning of the taxable year. Provided, however, that in any case in which an amended declaration has been filed, the unpaid balance shown due thereon shall be paid in equal installments on or before the remaining payment dates. Failure to file such a declaration or pay at least twenty-five percent (25%) of the amount declared shall subject the taxpayer to the interest and penalty provisions of Section 181.11; such assessments shall begin to run on the day following the due date of such declaration and continue to accumulate until the declaration is paid.
(e) On or before the 15th day of the fourth month of the year following that for which such declaration or amended declaration was filed, an annual return shall be filed and any balance which may be due the City of Norwood shall be paid therewith in accordance with the provisions of Section 181.05 hereof.
(Ord. 53-2013. Passed 11-26-13.)