A. Every person who anticipates any taxable income which is not subject to Section 185.06
hereof, or who engages in any business, profession, enterprise, activity, venture or transaction subject to the tax imposed by Section 185.03
hereof 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, if a persons income is wholly from wages from which the tax will be withheld and remitted to the Village of Waverly in accordance with Section 185.06
hereof, such person need not file a declaration.
B. 1. Such declaration shall be filed on or before April 30th of each year during the life of this chapter, or within four (4) 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 (4) 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, provided, however, credit shall be taken for the Village of Waverly tax to be withheld from any portion of such income. In accordance with the provisions of Section 185.15
hereof, credit may be taken for tax to be paid to or be withheld and remitted to another taxing municipality.
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. Such declaration of estimated tax to be paid to the Village of Waverly shall be accompanied by a payment of at least one-fourth (1/4) of the estimated annual tax and 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 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.
E. On or before the last 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 Waverly shall be paid therewith in accordance with the provisions of Section 185.05
hereof.
(Ord. 78-2015. Passed 12-15-15.)