(a) (1) Whether or not a tax is due, Each taxpayer whose earnings or profits are subject to the tax imposed by this chapter, shall, on or before April 15, 1968, and on April 30 thereafter for years prior to taxable year 2004, and on or before April 15th for taxable years 2004 and later, make and file a final return with the Finance Director on a form obtainable from the Finance Director, or on a generic form as defined in this chapter, setting forth the aggregate amount of income, salary, wages, or other compensation and net profits earned by him/her during the preceding year or period and subject to said tax, together with other pertinent information as the Finance Director may require. However, retirees having no income considered taxable for Oberlin income tax purposes may file, with the Finance Director, a written request for exemption from these filing requirements, and shall be exempt if the request is granted by the Finance Director. Such exemption shall be in effect until such time as the retiree receives income taxable for Oberlin income tax purposes, at which time the retiree shall be required to comply with all applicable provisions of this chapter.
(2) When the final return is made for a fiscal year or other period different from the calendar year, the return shall be made within 105 days from the end of said fiscal year or other period.
(3) Pertinent information may include, but not be limited to, copies of all W-2 forms, 1099 Miscellaneous Income Forms, page one of form 1040, Page One and Two of Form 1120, 1120S (including (K-1), 2106, 1065, Schedule C (including cost of goods manufactured and/or sold), Schedule E, schedule F and any other Federal Schedules if applicable.
(4) Expenses reported in accordance with federal guidelines for federal form 2106 (Including the requirement that they equal at least 2% of taxable income) are deductible, but are subject to review and audit by Oberlin's Finance Department. The 2106 expenses must be apportioned to municipalities in the same manner to which the related income is apportioned.
(b) The return shall also show the amount of the tax imposed on such earnings and profits. The taxpayer making the said return shall, at the time of the filing thereof, pay to the Finance Director the amount of taxes shown as due thereon. Provided, however, that where such portion of said tax shall have been paid by such taxpayer pursuant to the provisions of Section 181.05 and/or Section 181.06, credit for the amount so paid shall be deducted from the amount shown to be due and only the balance, if any, shall be due and payable at the time of filing said final return.
(c) Upon written request of the taxpayer the Finance Director may extend the time for filing the annual return for a period of not more than six months or not more than thirty days beyond any extension requested of and granted by the Bureau of Internal Revenue for the filing of the Federal Income Tax Return. For taxable year 2004 the extended due date shall be the last day of the month following the month to which the due date of the federal income tax return has been extended. for taxable years subsequent to 2004 the extended due date shall be the last day of the month to which the due date of the federal income tax return has been extended, if the annual return is filed through the Ohio Business Gateway. If not filed through the Ohio Business gateway the extended due date remains the last day of the month following the month to which the due date of the federal income tax return has been extended. The Finance Director may deny the extension if the taxpayer's income tax account with the City of Oberlin is delinquent in any way.
(d) The officer(s) or employee(s) of such employer having control or supervision or charged with the responsibility of withholding the tax and making the payment, shall be personally liable for failure to withhold or pay the tax, penalties, or interest due as required herein. The dissolution, bankruptcy or reorganization or other fundamental change of any such employer does not discharge an officer's or employee's liability for a prior failure of such business to withhold the tax or pay taxes, penalties, or interest due.
(e) Any business, profession, association or corporation reporting a net loss is subject to the filing requirements of this ordinance.
(f) A loss from the operation of a business may not be used to offset the income on a taxpayer's W-2 Form.
(g) Effective for taxable years beginning on or after July 1, 2006, net operating losses may be carried forward for three (3) years. No portion of a net operating loss shall be carried back against net profits of a prior year. Losses shall not be allowed (in whole or in part) to be allocated to Oberlin as loss carry forward if the loss occurred during a time period in which gross receipts (in whole or in part) were not allocated and reported to Oberlin.
(h) Amended Returns.
(1) Where necessary, an amended return must be filed in order to report additional income and pay any additional tax due, or claim a refund of tax overpaid, subject to the requirements and/or limitations contained in Sections 11 and 15. Such amended returns shall be on a form obtainable on request from the Administrator. A taxpayer may not change the method of accounting (i.e., cash or accrual) or apportionment of net profits after the due date for filing the original return.
(2) Within three (3) months from the final determination of any federal tax liability affecting the taxpayer's tax liability to the City of Oberlin, such taxpayer shall make and file an amended City of Oberlin tax return showing income subject to the City of Oberlin income tax based upon such final determination of federal tax liability, and pay an additional tax shown due thereon or make claim for refund of any overpayment.
(Ord. 06-49AC. Passed 6-19-06.)
(Ord. 06-49AC. Passed 6-19-06.)