(a) Every person who anticipates any taxable income which is not subject to Section 171.06, or who engages in any business, profession, enterprise or activity subject to the tax imposed by Section 171.03 shall file a declaration setting forth such estimated income or the estimated profit or loss from such business activity, together with the estimated tax due thereon, if any, provided, however, that if a person’s income is wholly from wages from which the tax will be withheld and remitted to the Municipality in accordance with Section 171.06, such person need not file a declaration.
(b) (1) Such declaration shall be filed on or before April 30 of each year, and on or before April 15th for taxable years 2005 and later, during the life of this chapter, except that no penalties or interest shall be assessed, for not filing a declaration, on any resident taxpayer who was not domiciled in the Municipality on the first day of January of the year in which they became subject to estimated payments, nor shall penalties or interest be assessed on estimated payments if the taxpayer has remitted an amount equal to one hundred percent of the previous year’s tax liability, provided that the previous year reflected a twelve-month period and the taxpayer filed a return for that year.
(2) Those taxpayers reporting on a fiscal year basis shall file a declaration within four months after the beginning of each fiscal year period, and within 105 days for taxable years 2005 and later.
(c) (1) Such declaration shall be filed upon a form furnished by, or obtainable from, the Administrator, or on other forms deemed acceptable by the Administrator. Credit shall be taken for the Municipal tax to be withheld from any portion of estimated income. In accordance with the provisions of Section 171.15, credit may be taken for tax to be paid to or to be withheld and remitted to another taxing municipality.
(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.
(d) Such declaration of estimated tax to be paid to the Municipality by taxpayers who are individuals shall be accompanied by a payment of at least one-fourth of ninety percent (90%) of the estimated annual tax and at least a similar amount shall be paid on or before July 31, October 31 and January 31 next following. However, 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 dates.
(e) Such declaration of estimated tax to be paid to the Municipality by corporations and associations shall be accompanied by a payment of at least one-fourth of ninety percent (90%) of the estimated annual tax and at least a similar amount shall be paid on or before June 15, September 15 and December 15. In the case of a fiscal year taxpayer the second, third, and fourth quarterly payments shall be due on the fifteenth day of the sixth, ninth, and twelfth months of the taxable year, respectively.
(f) 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 Municipality shall be paid therewith in accordance with the provisions of Section 171.05. (Ord. 06-05. Passed 2-14-05.)