181.07 DECLARATIONS.

   (a)   Every person who anticipates any taxable income which is not subject to Section 181.06 or who engages in any business, profession, enterprise or activity subject to the tax imposed by Section 181.03 hereof shall file a declaration setting forth such estimated profit or loss from such business activity, together with the estimated tax due thereon, if any; provided, however, if a person’s income is wholly from wages from which tax will be withheld and remitted to the Village of South Amherst in accordance with Section 181.06 hereof, such person need not file a declaration.
(Ord. 424. Passed 6-8-70.)

   (b)   (1)   Such declaration shall be filed on or before April 15 of each year during the life of this chapter or within four months of the date the taxpayer becomes subject to tax for the first time.
(Ord. 1360-10. Passed 11-22-10.)

      (2)   Those taxpayers reporting on a fiscal year basis shall file a declaration within four months after the beginning of each fiscal year or period.

   (c)   (1)   Such declaration shall be filed upon a form furnished by or obtainable from the Administrator. Credit shall be taken for South Amherst income tax to be withheld, if any, from any portion of such income. In addition, credit may be taken for tax payable to other taxing municipalities in accordance with the provisions of Section 181.15 hereof.

      (2)   The original declaration (or any subsequent amendment thereof) may be increased or decreased on or before any subsequent quarterly payment date as provided herein.

   (d)   The taxpayer making the declaration shall, at the time of the filing thereof, pay to the Administrator at least one-fourth of the estimated annual tax due after deducting:

      (1)   Any portion of the tax to be deducted or withheld at the source pursuant to Section 181.06 hereof.

      (2)   Any credits allowable under the provisions of Section 181.15 hereof; and

      (3)   Any overpayment of previous year’s tax liability which taxpayer has not elected to have refunded.

   At least a similar amount shall be paid on or before the last day of the sixth, ninth and twelfth months after the beginning of the taxpayer’s taxable year, provided that in case an amended declaration has been duly 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.

(Ord. 424. Passed 6-8-70.)

   (e)   On or before the 15th 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 Village of South Amherst shall be paid therewith in accordance with the provisions of Section 181.05 hereof.

   (f)   Any entity or person subject to the provisions of this chapter who fails to make declarations required hereunder and fails to pay or under-pays quarterly estimates which are not covered by withholding by an employer, shall be fined. Said fine shall not be more than twenty- five dollars ($25.00) for each quarter of non or underpayment together with interest at the rate of ten percent (10%) per annum, on those amounts unpaid and due and owing to the Village. Any person or entity whose total annual income tax liability hereunder is one hundred dollars ($100.00) or less need not file such declaration.

(Ord. 1360-10. Passed 11-22-10.)