(a) Every person who anticipates any taxable income which is not subject to the provisions of Section 181.07 or who engages in any business shall file a declaration setting forth such estimated income or the estimated profit or loss from such business during the year covered by the declaration, together with the estimated tax due thereon, if any.
(b) Exclusive of taxpayers filing on a fiscal basis, such declaration shall be filed on or before April 30 of each year. In the case of a person starting in business, such declaration shall be filed within four months of the date he starts such business.
(c) Such declaration shall be filed upon a form or forms furnished by, or obtainable upon request, from the income tax department, which form or forms may contain a statement that the figures used in making such declaration are the figures used in making the declaration of the estimate for federal income tax, adjusted to set forth only such income as is taxable under the provisions of this chapter.
(d) (1) Such declaration of estimated tax to be paid to the Village shall be accompanied by a payment of at least one-fourth of the estimated tax.
(2) Exclusive of taxpayers filing on a fiscal year basis, at least a similar amount shall be paid on or before July 31, October 31, and January 31 of each year. Such estimate may be amended at any time.
(e) A taxpayer reporting on a fiscal year basis shall file, beginning with his first fiscal year, any part of which falls within the tax period, a declaration within four months after the start of each fiscal year accompanied by a payment of at least one-fourth on the estimated tax shown due thereon. At least a similar amount shall be paid on or before the last day of each three month period thereafter.
(f) On or before April 30 of the year following that for which a declaration was filed, or in the case of a fiscal year taxpayer, on or before the last day of the fourth month after the close of the fiscal year for which a declaration was filed, an annual return shall be filed, and any tax which may be due shall be paid in accordance with the provisions of Section 181.05.
(Ord. 04-967. Passed 11-15-04.)