(a) Each taxpayer shall, for years prior to taxable year 2004, whether or not a tax is due thereon, make and file a return on or before April 30 of each year, following the effective date of this chapter, and on or before April 15th for taxable years 2004 and later. When the return is made for a fiscal year or other period different from the calendar year, the return shall be field within four months from the end of such fiscal year or period for years prior to taxable year 2004, and within 105 days for taxable years 2004 and later. Each resident of the Municipality who has no income subject to the Municipality’s income tax shall so indicate this fact on their income tax return, including the reason(s) their income is not taxable, and shall be relieved of filing future returns unless and until such time the taxpayer receives income taxable to the Municipality.
(b) The return shall be filed with the Administrator on a form or forms furnished by or obtainable upon request from such Administrator or on other forms deemed acceptable by the Administrator setting forth:
(1) The aggregate amounts of income, salaries, wages, commissions, other compensation and other income earned or received and gross receipts from business, profession or other activity, less allowable expenses incurred in the acquisition of such gross receipts received during the preceding year and subject to the tax.
(2) The amount of the tax imposed by this chapter on such receipt and profits; and
(3) Such other pertinent statements, information returns or other information as the Administrator may require, including but not limited to copies of all W-2 Forms, 1099 Miscellaneous income forms, and all applicable federal schedules.
(c) The Administrator may grant an extension for filing of the annual return upon the request of the taxpayer for a period not to exceed six months, or one month beyond any extension requested of or granted by the Internal Revenue Service for the filing of the federal income tax return for taxable years prior to 2004. For taxable year 2004 the extended due date shall be the last day of the month following the month to which the due date of the Federal Income Tax return has been extended. For taxable years subsequent to 2004 the extended due date shall be the last day of the month to which the due date of the federal income tax return has been extended. The Administrator may require a tentative return, accompanied by payment of the amount of tax shown to be due thereon by the date the return is normally due. No penalty or interest shall be assessed in those cases in which the return is filed and the final tax paid within the period as extended. The Administrator may deny the extension if the taxpayer’s income tax account with the Municipality of Sebring is delinquent in any way.
(d) (1) The taxpayer making a return shall, at the time of the filing thereof, pay to the Administrator the amount of taxes shown as due thereon, provided, however, that where any portion of the tax so due has been deducted at the source pursuant to the provisions of Section 171.06, or where any portion of such tax has been paid by the taxpayer pursuant to the provisions of Section 171.07, or where an income tax has been paid to another Municipality, credit for the amount shown to be due and only the balance, if any, shall be due and payable at the time of filing the return.
(2) A taxpayer who has overpaid the amount of tax to which the Municipality 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 part thereof) shall be refunded, provided that no additional taxes or refunds of less than one dollar ($1.00) shall be collected or refunded.
(e) (1) Where necessary, an amended return must be filed in order to report additional income and pay any additional tax due, or claim a refund of tax overpaid, subject to the requirements and/or limitations contained in Section 171.11 and 171.15. Such amended returns shall be on a form obtainable upon request from the Administrator. A taxpayer may not change the method of accounting (i.e. cash or accrual) or apportionment of net profits after the due date for filing the original return.
(2) Within three months from the final determination of any federal tax liability affecting the taxpayer’s Municipal tax liability, such taxpayer shall make and file an amended Municipal return showing income subject to the Municipal tax based upon such final determination of federal tax liability, and pay any additional tax shown due thereon or make claim for refund of any overpayment.
(f) Any business, profession, association or corporation reporting a net loss is subject to the filing requirements of this chapter. (Ord. 06-05. Passed 2-14-05.)