(a) Every taxpayer or person who anticipates any taxable income in excess of ten thousand dollars ($10,000) which is not subject to Section 181.06, or who engages in any business, profession, enterprise or activity 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.
(b) Such declaration shall be filed on or before April 15 of each year.
(c) Such declaration shall be filed upon a form or forms furnished by, or obtainable from the Commissioner of Taxation or an acceptable generic form, which form or forms may require a statement that the figures used in making such declaration are the figures used in making the declaration of the estimate for the Federal income tax adjusted to set forth only such income as is taxable under the provisions of this chapter.
(d) For taxpayers who are individuals, such declaration of estimated tax to be paid the City of Upper Sandusky shall be accompanied by payment of at least twenty-two and one- half percent (22-1/2%) of the estimated annual tax and 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 taxable year.
(e) For taxpayers that are not individuals, such declaration of estimated tax to be paid the City of Upper Sandusky shall be accompanied by a payment of at least twenty-two and one-half percent (22-1/2%) of the estimated annual tax and at least a similar amount shall be paid on or before the fifteenth (15th) day of the sixth, ninth and twelfth months after the beginning of the taxable year.
(f) Those taxpayers having a fiscal year or period differing from the calendar year shall file a declaration on or before the fifteenth day of the fourth month of the taxpayer’s taxable year, accompanied by a payment of at least twenty-two and one-half percent (22-1/2%) of the estimated annual tax shown due thereon, and at least an equal amount shall be paid on the fifteenth day of the sixth, ninth and twelfth months thereafter.
(g) The declaration amount may be amended at any time during the year if a taxpayer believes that his income will be more or less than estimated. In the event that 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.
(h) On or before April 15 or the fifteenth (15th) day of the fourth (4th) month of a fiscal year, an annual return shall be filed and any balance which may be due the City of Upper Sandusky shall be paid therewith in accordance with the provisions of Section 181.05.
(I) Such declaration shall indicate that the estimated tax is being withheld under the provisions of Section 181.06 or is being paid to another municipality under a similar provision.
(j) The Commissioner of Taxation is authorized to file a declaration of estimated tax for a taxpayer who may reasonably be expected to file such declaration and fails to do so.
(Ord. 45-11. Passed 9-20-04.)