(a) Every person who anticipates any taxable income on which the annual tax due is in excess of two hundred dollars ($200.00) and which is not subject to Section 890.06 in whole or in part, or who engages in any business, profession, enterprise or activity subject to the tax imposed by Section 890.03, 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. However, if a person's income is wholly from wages from which tax will be withheld and remitted to the City of Perrysburg in accordance with Section 890.06, such person need not file a declaration.
(b) Such declaration shall be filed on or before April 15 of each year, or on or before the federal filing date if it is other than April 15th, so long as this chapter is effective, or within four (4) months of the date the taxpayer becomes subject to tax for the first time.
(c) Those taxpayers reporting on a fiscal year basis shall file a declaration on the fifteenth (15th) day of the fourth (4th) month after the beginning of each fiscal year or period, or on or before the federal filing date if it is other than the 15th day of the fourth month from the end of such fiscal year or period.
(d) Such declaration shall be filed upon a form furnished by, or obtainable from, the Commissioner, or on an acceptable generic form as defined in this Chapter. Credit shall be taken for Perrysburg 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 890.14 or tax withheld from the source pursuant to Section 890.06 or any overpayment of the previous year's tax liability which has not been refunded.
(e) The original declaration, or any subsequent amendment thereof, may be increased or decreased on or before any subsequent quarterly payment date as provided herein.
(f) 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 (22½%) of the estimated annual tax due.
(g) At least a similar amount shall be paid on or before the last day of the seventh (7th), tenth (l0th) and thirteenth (13th) months after the beginning of the taxpayer's taxable year, provided that in case an amended declaration has been duly filed, or the taxpayer is taxable for a portion of the year only, the unpaid balance shall be paid in equal installments on or before the remaining payment dates.
(h) The declarations for the second (2nd), third (3rd) and fourth (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 at least forty-five percent (45%), sixty-seven and one- half percent (67½%) and ninety percent (90%) respectively of the tax estimated to be due. (ORC 718.08)
(i) Effective January 1, 2003, no penalty or interest will be assessed for late payment or nonpayment of estimated taxes if the taxpayer was not domiciled in Perrysburg on the first day of January of the current calendar year or if the taxpayer had paid estimate payments equaling one hundred percent (100%) of the taxpayer's tax liability for the immediately preceding tax year, providing that the immediately preceding tax year reflected a twelve month tax period and the taxpayer filed a return for the immediately preceding year. (ORC 718.08).
(j) On or before the fifteenth (15th) day of the fourth (4th) month of the year following that for which such declaration or amended declaration was filed, or on or before the federal filing date if it is other than April 15th, an annual return shall be filed and any balance which may be due for the City of Perrysburg shall be paid therewith in accordance with the provisions of Section 890.05. In the case of a fiscal year taxpayer, on or before the fifteenth day of the fourth month after the close of the fiscal year for which a declaration was filed, or on or before the federal filing date if it is other than the 15th day of the fourth month from the end of such fiscal year or period, an annual return shall be filed and any balance which may be due the City shall be paid therewith in accordance with the provisions of Section 890.05.
(k) Any money due the City because of failure to pay an installment of estimated tax, or the proper amount of underestimation or otherwise, is subject to the interest and penalties provided for in Section 890.10.
(l) No interest and penalty shall be assessed if the taxpayer bases his or her estimate on the preceding three-month period, annualized for the remainder of the year, and updates this estimate by amendment as necessary each succeeding three-month period so that at least ninety percent (90%) of the annual liability to be ultimately determined has been paid by estimate by the close of each period as applicable. If the taxpayer files in this manner, but fails to have ninety percent (90%) of the ultimate tax liability paid in the fashion so described, interest and penalty shall be assessed on the portion of the estimated tax not equal to at least ninety percent (90%) of the final tax due when paid by the installment due date.
(m) If a taxpayer's total quarterly estimate payments do not equal at least ninety percent (90%) of the total tax liability as estimated on the taxpayer's annual tax return or if the taxpayers total quarterly estimate payments do not equal one hundred percent (100%) of the taxpayer's tax liability for the immediately preceding year, provided that such immediately preceding year's liability reflected as twelve-month tax period on the return filed by the taxpayer, interest and penalty shall be assessed at the following rates and in the following manner:
(1) The taxpayer's annual tax liability as estimated on the taxpayer's annual return shall be divided by four (4) to determine the amount of tax which should have been paid quarterly on an estimated basis. The difference between the amount of tax which should have been paid quarterly on an estimated basis and the amount of tax actually paid quarterly on an estimated basis shall be subject to a penalty of one percent (1%), or fraction thereof, at a minimum of ten percent (10%) per quarter, and interest of one percent (1%) per month or fraction thereof from the due date of each quarterly installment to the date the annual return is due or the tax paid thereon, whichever is earlier.
(2) In the event the taxpayer provides satisfactory evidence to the Commissioner that the taxpayer's annual income fluctuated in such a manner that the penalty and/or interest as specified in paragraph (1) hereof should not be imposed, the Commissioner may waive any portion of such penalty and/or interest upon request of the taxpayer and submission of evidence of such fluctuation to the Commissioner.
(3) Any credits from a previous year carrying over to the current year would reduce the estimates due and applied to the first quarter of the current year, with any excess then applied to subsequent quarters of the current year to reduce the liability thereon.
(Ord. 104-2015. Passed 11-17-15.)