(a) Every person who anticipates any taxable income or who engages in any business, profession, enterprise or activity subject to the tax imposed in Section 195.20 shall file a declaration setting forth the estimated income or the estimated profit or loss from the business activity together with the estimated tax due thereon, if any. However, if a person's income is wholly from wages from which the tax will be withheld and remitted to the City of Stow in accordance with Section 195.26, the person need not file a declaration.
(b) (1) The declaration shall be filed on or before April 30 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.
(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) The declaration shall be filed on a form furnished by, or obtainable from, the Administrator. Credit shall be taken for the City of Stow's income tax to be withheld, if any, from any portion of the income. In addition, credit may be taken for tax payable to other taxing municipalities in accordance with the provisions of Section 195.90.
(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) 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 any credits allowable under the provisions of Section 195.90. At least a similar amount shall be paid on or before the last day of the seventh, tenth and thirteenth month 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.
(e) On or before the last day of the fourth month of the year following that for which the declaration or amended declaration was filed, an annual return shall be filed and any balance which may be due the City of Stow shall be paid therewith in accordance with the provisions of Section 195.25.
(Ord. 2000-130. Passed 4-13-00.)
(Ord. 2000-130. Passed 4-13-00.)