(a) Every Person who anticipates any Taxable Income that is not subject to the provisions of Section 191.17, or who engages in any Business subject to City Income Tax shall file a declaration setting forth such estimated income or the estimated Net Profit from such Business together with the estimated City Income Tax due thereon, if any. No declaration or payment of estimated tax is required if the estimated City Income Tax for the current year, less the City Income Tax to be withheld and less the tax credits provided under this section and Sections 191.17 and 191.04, amounts to not more than ten dollars ($10.00), or if a Person’s income is wholly from Compensation from which City Income Tax will be withheld and remitted to the City in accordance with Section 191.17.
(b) Such declaration shall be filed on or before April 15 of each Taxable Year during the effective period of this Chapter, or within four months of the date the Taxpayer first becomes subject to tax imposed by this Chapter.
(c) Those Taxpayers reporting on a Fiscal Year basis shall file a declaration on or before the fifteenth (15th) day of the fourth (4th) month after the beginning of each Fiscal Year.
(d) Such declaration shall be filed upon a form furnished by, or obtainable from, the Administrator. Credit shall be taken for City Income Tax to be withheld, if any, from any portion of such income. In addition, credit may be taken for income tax payable to other Taxing Municipalities in accordance with the provisions of Section 191.04.
(e) 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) The declaration of estimated City Income Tax to be made shall be accompanied by a payment of at least one-fourth (1/4) of the estimated annual City Income Tax made payable to the “Finance Director of the City of Sandusky.” At least a similar amount shall be paid on or before the 30th days of the sixth, ninth and twelfth months after the beginning of the Taxable Year. When an amended return has been filed, the unpaid balance shown due thereon shall be paid in equal installments on or before the remaining payment dates.
(g) (1) Notwithstanding subsection (f) hereof, every individual making the declaration with respect to Taxable Income not subject to Section 191.17 for a Taxable Year beginning on or after January 1, 2003, shall remit payment of the estimated annual City Income Tax as follows:
A. At least twenty-two and one-half percent (22.5%) of such individual’s estimated City Income Tax liability for the current Taxable Year shall be remitted on or before April 15 or the day on which the annual tax return for the prior Taxable Year must be filed, in accordance with Section 191.15, disregarding any extension;
B. At least forty-five percent (45%) of such individual’s estimated City Income Tax liability for the current Taxable Year shall be remitted on or before July 31;
C. At least sixty-seven and one-half percent (67.5%) of such individual’s estimated City Income Tax liability for the current Taxable Year shall be remitted on or before October 31; and
D. At least ninety percent (90%) of such individual’s estimated City Income Tax liability for the current Taxable Year shall be remitted on or before January 31 of the following Taxable Year.
(2) Every Person making the declaration with respect to the Taxable Income from any Business subject to City Income Tax shall remit payment of the estimated annual City Income Tax as follows:
A. At least twenty-two and one-half percent (22.5%) of the Taxpayer’s estimated City Income Tax liability for the current Taxable Year shall be remitted on or before the day on which the annual return for the prior Taxable Year must be filed, in accordance with Section 191.15, disregarding any extension or, in the case of a Fiscal Year Taxpayer, the fifteenth day of the fourth month of the Taxpayer’s Taxable Year;
B. At least forty-five percent (45%) of the Taxpayer’s estimated City Income Tax liability for the current Taxable Year shall be remitted on or before June 15, or in the case of a Fiscal Year Taxpayer, the fifteenth day of the sixth month of the Taxpayer’s Taxable Year;
C. At least sixty-seven and one-half percent (67.5%) of the Taxpayer’s estimated City Income Tax liability for the current Taxable Year shall be remitted on or before September 15, or in the case of a Fiscal Year Taxpayer, the fifteenth day of the ninth month of the Taxpayer’s Taxable Year; and
D. At least ninety percent (90%) of the Taxpayer’s estimated City Income Tax liability for the current Taxable Year shall be remitted on or before December 15, or, in the case of a Fiscal Year Taxpayer, the fifteenth day of the twelfth month of the Taxpayer’s Taxable Year.
(3) All payments of estimated annual City Income Tax made pursuant to this subsection (g) shall be made after deducting:
A. Any portion of City Income Tax to be deducted or withheld at the source pursuant to Section 191.17;
B. Any credits allowable under the provisions of Section 191.04; and
C. Any overpayment of the previous year’s City Income Tax liability that the Taxpayer has not elected to have refunded or previously claimed as a credit.
(h) On or before the fifteenth (15th) day of the fourth month following the end of the Taxable Year for which such declaration or amended declaration was filed, an annual return shall be filed, and any balance that may be due to the City shall be paid therewith in accordance with the provisions of Section 191.15. Any Taxpayer, however, may file an annual return on or before the last day of the first month following the end of the Taxable Year for which such declaration or amended declaration was filed and pay any balance due at such time in lieu of filing such declaration or amended declaration, and in lieu of paying the final quarterly installment based upon a declaration or amended declaration of estimated tax.
(i) An amended declaration must be filed when the original declaration made for a Taxable Year underestimates the Taxpayer’s Taxable Income by ten percent (10%) or more. The unpaid balance of estimated tax shall be paid in equal installments on or before the payment dates provided in subsections (f) and (g) hereof. If a Taxpayer fails to remit the full amount of estimated City Income Tax required to be paid by an applicable due date specified in subsections (f) and (g) hereof, such underpayment of estimated City Income Tax shall be subject to the interest and penalty provisions of Section 191.12. No penalty, interest, interest penalty, or other similar assessment or charge, however, shall be imposed against a Taxpayer for the late payment or nonpayment of estimated City Income Tax in either of the following circumstances:
(1) The Taxpayer is a Resident but was not domiciled in the City on January 1 of the calendar year; or
(2) The Taxpayer has remitted, pursuant to subsections (f) and (g) hereof, an amount at least equal to one hundred percent (100%) of the Taxpayer’s City Income Tax liability for the preceding Taxable Year as shown on the return filed by the Taxpayer for the preceding Taxable Year, provided that the return for the preceding Taxable Year reflected a 12-month period and the Taxpayer filed a return for the preceding Taxable Year.
(Ord. 05-100. Passed 6-13-05.)