(a) Declaration of income not collected at source. Every person who anticipates any taxable income which is not subject to § 890.07 and/or from which tax will not be fully withheld, or who engages in any business, profession, enterprise or activity subject to the tax imposed by § 890.03, 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 city in accordance with § 890.07, such person need not file a declaration.
(1) The declaration shall be filed on or before April 15 of each year during the effective period set forth in § 890.04 or on or before the fifteenth day of the fourth month 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 on or before the fifteenth day of the fourth month after the beginning of each fiscal year or period.
(3) The declaration shall be filed upon a form furnished by, or obtainable from, the Administrator, or on an acceptable generic form as defined in this chapter. Credit shall be taken for city tax to be withheld from any portion of such income. In accordance with the provisions of § 890.17, credit may be taken for tax to be paid or to be withheld and remitted to another taxing municipality.
(4) 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.
(b) Payment to accompany declaration. Such declaration of estimated tax to be paid to the city shall be accompanied by a payment of at least one-fourth of the estimated tax due.
(1) If the taxpayer is an individual, at least a similar amount shall be paid on or before the last day of the seventh, tenth and thirteenth months after the beginning of the taxpayer’s taxable year, provided that in case an amended declaration has been filed, or the taxpayer is taxable for a portion of the year only, the unpaid balance shall be paid in equal installments on or before the remaining payment dates.
(2) If the taxpayer is a corporation or association, at least a similar amount shall be paid on or before the fifteenth day of the sixth, ninth and twelfth months of 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 dates.
(c) Penalties or interest. No penalties or interest shall be assessed, for not filing a declaration, on any resident taxpayer who was not domiciled in the city on the first day of January in 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 100% of the previous year’s tax liability, provided that the previous year reflected a 12-month period and the taxpayer filed a return for that year, nor shall penalties or interest be assessed on estimated payments if the taxpayer has remitted an amount equal to 90% of the final tax liability for the tax year due on or before April 15 of the current year.
(d) Annual return. See § 890.06(a).
(Ord. 2007-217, passed 10-15-2007)