(a) Every person upon whom a tax is imposed by Section 173.03, except as herein provided, shall, whether or not a tax is due thereon, make and file an annual return on or before April 15 of the year following the effective date of this chapter and on or before April 15 of each year thereafter. When the return is made for a fiscal year or other period different from the calendar year, the return shall be filed within four months from the end of that fiscal year or period.
(b) The annual return shall also show the amount of tax imposed by this chapter on such earnings and profits. The taxpayer making this annual return shall at the time of the filing thereof pay to the Income Tax Supervisor the amount of taxes shown as due thereon. However, where any portion of the tax so due is deducted at the source and is paid to the Income Tax Supervisor by the person making the deduction pursuant to the provisions of Section 173.06 credit for the amount so paid shall be deducted from the amount shown to be due and only the balance, if any, shall be due and payable at the time of filing the annual return. Further, where any tax payments are made to another municipality granting reciprocity similar to the provisions of Section 173.13, credit for the amount so paid and to the extent refundable under the reciprocity may also be deducted from the amount of tax shown to be due on the annual return, and only the balance of tax, if any, shall be due and payable at the time of filing the annual return. If the amount of the credit for refundable tax payments made to a municipality having a similar reciprocity is equal to or in excess of the balance of tax shown to be due on the annual return, no payment need be made at the time of filing the annual return.
(c) The claiming of credit for amounts so paid to any other municipality shall constitute an assignment and transfer to the City of all right, title and interest of the taxpayer claiming the credit in and to any claim for refund of the amounts so paid to the other municipality. In the event of a refund not received by the City in an amount equal to the credit claimed by reason of tax payments made to another municipality and subject to reciprocity, then the taxpayer shall be liable to the City for and as taxes due from the date of the filing of the annual return upon which the credit was claimed of the amounts by which the claimed credit exceeds the amount of refund received by this City.
(d) The Income Tax Supervisor may extend the time for filing of the annual return upon the request of the taxpayer for a period not to exceed six months, or one month beyond any extension requested or granted by the Internal Revenue Service for the filing of the federal income tax return. The Income Tax Supervisor may require a tentative return, accompanied by payment of the amount of tax shown to be due thereon, by the date the return is normally due. No penalty shall be assessed in those cases in which the return is filed and the final tax paid within the period as extended.
(e) The taxpayer making a return shall, at the time of the filing thereof, pay to the Income Tax Supervisor the amount of taxes shown as due thereon. However, where any portion of the tax so due is deducted at the source pursuant to the provisions of Section 173.05 any portion of the tax is paid by the taxpayer pursuant to the provisions of Section 173.06 or where an income tax has been paid to another municipality, credit for the amount so paid in accordance with Section 173.13, shall be deducted from the amount shown to be due and only the balance, if any, shall be due and payable at the time of filing the return.
(f) A taxpayer who has overpaid the amount of tax to which this Municipality is entitled under the provisions of this chapter may have such overpayment applied against any subsequent liability hereunder or, at his election indicated on the return, the overpayment (or part thereof) shall be refunded, provided that no additional taxes or refunds of less than one dollar ($1.00) shall be collected or refunded.
(g) Amended Returns.
(1) An amended return shall be filed in order to report additional income and pay any additional tax due, or claim a refund of tax overpaid, subject to the requirements and limitations contained in Section 173.10. Amended returns shall be on a form obtainable on request from the Income Tax Supervisor. A taxpayer may not change the method of accounting or apportionment of net profits after the due date for filing the original return.
(2) Within ninety days from the final determination of any federal tax liability affecting the taxpayer's tax liability to this Municipality, the taxpayer shall make and file an amended return showing income subject to the income tax of this Municipality based upon the final determination of federal tax liability, and pay any additional tax shown due thereon or make claim for refund for any overpayment.
(h) A penalty of twenty-five dollars ($25.00) shall be assessed by the Income Tax Supervisor for the failure of a taxpayer to file a return as required by the provisions of this section for which no extension has been granted or where an extension has been granted within the time period of the extension.
(Ord. 4173. Passed 12-9-03.)