(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; or
C. Where an income tax has been paid on the same income to another municipality, credit for the amount so deducted or paid, or credit to the extent provided for in this chapter, 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 of Richwood is entitled under the provisions of this chapter may have such overpayment applied against any subsequent liability hereunder, or at this 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.
(b) Collection at Source.
(1) In accordance with rules and regulations prescribed by the Administrator, each employer within or doing business within the Village of Richwood shall deduct, at the time of the payment of such salary, wages, commission or other compensation, the tax provided in Section 185.03
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 $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 and shall be subject to the rules and regulations prescribed 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 of Richwood as a trustee for the benefit of the Village of Richwood, and any such tax collected by such employer from his employees shall, until the same is paid to the Village of Richwood, be deemed a trust fund in the hands of such employer.
(4) 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 of Richwood, 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 of Richwood or another municipality in which taxes are withheld at a rate the same as or higher than the rate provided in this chapter shall file a declaration setting forth estimated taxable income, including distributive shares of net profits or unincorporated business entities estimated to be earned by the taxpayer during the current tax year, together with the estimated tax due thereon less:
(1) Tax withheld within the Village of Richwood;
(2) The tax credit allowed in the appropriate section of this chapter.
(d) Filing of Declaration.
(1) The declaration required by this chapter shall be filed on or before April 30th of each year during the effective period set forth in this chapter or within four 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 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. As provided for in this chapter, credit shall be taken for the Village of Richwood tax to be withheld from any portion of such income and credit shall be taken for tax to be paid or withheld and remitted to another taxing municipality, 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. Such declaration of estimated tax to be paid to the Village of Richwood shall be accompanied by a payment of at least one-fourth (.25) of the estimated annual tax and at least a similar amount shall be paid on or before the last day of the seventh and tenth months after the beginning of the taxable year, and on or before the last day of the first month of the succeeding year following the taxable year. Provided, however, that 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) 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 of Richwood 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.
(h) 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 months beyond the original required date.
(Ord. 11-95. Passed 1-23-95.)