(a) Payment of Tax on Filing of Returns.
(1) The taxpayer making a return shall, at the time of filing thereof, pay to the Administrator the amount of taxes shown as due thereon; provided, however, that:
A. Where any portion of the tax so due shall have been deducted at the source pursuant to the provisions of this Chapter; or
B. Where any portion of said tax shall have been paid by the taxpayer pursuant to the provisions of this Chapter;
credit for the amount so deducted or 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 return.
(2) A taxpayer who has overpaid the amount of tax to which the Village is entitled under the provisions of this Chapter may have such overpayment applied against any subsequent liability hereunder, or at his election, indicated on the return, such overpayment (or any part thereof) shall be refunded, provided that no additional taxes or refunds of less than one dollar ($1.00) shall be collected or refunded.
(3) If any employer which is liable for tax obligations imposed by this chapter undergoes a fundamental change, then the employer and its manager shall be liable for taxes due up to the date of the fundamental change. Taxes and final tax returns shall be due immediately after the fundamental change. Any successor employer shall withhold from any purchase price that the successor owes to the predecessor an amount sufficient to pay all unpaid taxes, interest and penalty which the predecessor employer owes pursuant to this chapter. The successor employer shall make such withholding until such time that the predecessor employer has paid such taxes, interest and penalties. If the successor fails to withhold such amount, then the successor and, in a personal manner, the successor's manager, shall be jointly and severally liable for the payment of such taxes, interest and penalty.
(b) Collection at Source.
(1) In accordance with rules and regulations prescribed by the Administrator, each employer within or doing business within the Village shall deduct, at the time of the payment of such salary, wages, commission or other compensation, the tax of one percent (1%) per annum of the gross salaries, wages, commissions or other compensation due by the said employer to said employee and shall, on or before the last day of each month, make a return and pay to the Administrator the amount of taxes so deducted during the previous month; provided, however, that if the amount of the tax so deducted by any employer in any one month is less than one hundred dollars ($100.00), the employer may defer the filing of a return and payment of the amount deducted until the last day of the month following the end of the calendar quarter in which such month occurred.
(2) Said returns shall be on a form or forms prescribed or acceptable to the Administrator, or an acceptable generic form, and shall be subject to the rules and regulations pre-scribed therefor by the Administrator. Such employer shall be liable for the payment of the tax required to be deducted and withheld whether or not such taxes have, in fact, been withheld.
(3) Such employer in collecting said tax shall be deemed to hold the same until payment is made by such employer to the Village as a trustee for the benefit of the Village, and any such tax collected by such employer from his employees shall, until the same is paid to the Village, be deemed a trust fund in the hands of such employer.
(4) Manager's obligation.
A. Every manager is deemed to be a trustee of this Municipality in collecting and holding the tax required under this chapter to be withheld and the funds so collected by such withholding are deemed to be trust funds. Every manager is liable directly to this Municipality for payment of such trust funds, whether actually collected by such employer or not. Any tax deducted and withheld is to be considered paid to this Municipality, whether or not the employer actually remits the tax to this Municipality, for purposes of determining employee payments or credits only.
B. All managers shall be personally liable to the extent of the tax, interest and penalty, jointly and severally, for failure to file the employer's return or to pay the employer's tax, interest and penalty as required under this chapter.
C. No change in structure by an employer, including a fundamental change, discharges its managers from liability for the employee's or manager's failure to remit funds held in trust, to file a tax return or pay taxes.
(5) No person shall be required to withhold the tax on wages or other compensation paid domestic servants employed by him exclusively in or about such person's residence, even though such residence is in the Village, but such employee shall be subject to all of the requirements of the Chapter.
(c) Declarations of Income Not Collected at Source. Any person whose income tax is not fully withheld in the Village shall file a declaration setting forth estimated taxable income, including distributive shares of net profits of unincorporated business entities estimated to be earned by the taxpayer during the current tax year, together with the estimated tax due thereon less the tax withheld for the Village.
(d) Filing of Declaration.
(1) The declaration required by this Chapter shall be filed on or before April 15th of each year during the effective period set forth in this Chapter 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 within four (4) months after the beginning of each fiscal year or period.
(e) Form of Declaration.
(1) The declaration required by this Chapter shall be filed upon a form furnished by or obtainable from the Administrator, or an acceptable generic form. As provided for in this Chapter, credit shall be taken for the income tax of the Village to be withheld from any portion of such income in accordance with the provisions of this Chapter.
(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.
(f) Payment to Accompany Declaration.
(1) Effective January 1, 2005, the declaration of estimated tax to be paid the Village by taxpayers who are individuals shall be accompanied by a payment of at least one fourth (1/4) of the declaration amount and at least a similar amount shall be paid on or before July 31st and October 31st of the taxable year, and January 31st of the following year.
(2) Effective January 1, 2005, such declaration of estimated tax to be paid to the Village by taxpayers who are not individuals shall be accompanied by a payment of at least one-fourth (1/4) of the declaration amount and at least a similar amount shall be paid on or before June 15th, September 15th, 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.
(3) In case an amended declaration has been filed, the unpaid balance shown due thereon shall be paid in equal installments on or before the remaining payment date or dates.
(g) If the estimated tax for the current year amounts to not more than one hundred dollars ($100.00), no declaration or payment of estimated tax is required.
(h) Annual Return. On or before the last 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 Village shall be paid therewith in accordance with the provisions of this Chapter. Provided, however, that any taxpayer may file, on or before the last day of the first month of the year following that for which such declaration or amended declaration was filed, an annual return and pay any balance due at such time in lieu of filing such declaration or any amended declaration, and in lieu of paying the final quarterly installment based upon a declaration or amended declaration of estimated tax.
(i) Extensions. The Administrator may extend the time of filing any return required, of making any payment or performing any other act required by this Chapter for a period not to exceed six (6) months beyond the original required date. The extension request may be made by filing a copy of the taxpayer's request for a federal filing extension, or by filing a written request. the Administrator may deny the extension if the taxpayer's income tax account with the Village is delinquent in any way. (Ord. 11-09. Passed 9-24-09.)