(A) (1) If a taxpayer’s tax liability shown on the annual tax return for West Alexandria changes as a result of an adjustment to the taxpayer’s federal or state income tax return, the taxpayer shall file an amended return with West Alexandria. The amended return shall be filed on a form required by the Tax Administrator. A taxpayer may not change the method of accounting or apportionment of the net profits, nor the method of filing, after the due date for filing the original return.
(2) If a taxpayer intends to file an amended consolidated municipal income tax return, or to amend its type of return from a separate return to a consolidated return based on the taxpayer’s consolidated federal income tax return, or to amend its type of return from a consolidated return to a separate return, the taxpayer shall notify the Tax Administrator before filing the amended return. Nothing in this division (A) shall require the Tax Administrator to accept such amended returns.
(B) (1) In the case of an underpayment, the amended return shall be accompanied by payment of any additional tax due, together with any penalty and interest thereon. If the tax, penalty and interest shown to be due is $10 or less, no payment need be made. The amended return shall reopen those facts, figures, computations or attachments from a previously filed return that are not affected, either directly or indirectly, by the adjustment to the taxpayer’s federal or state income tax return only:
(a) To determine the amount of tax that would be due if all facts, figures, computations and attachments were reopened; or
(b) If the applicable statute of limitations for civil actions or prosecutions under § 36.241 has not expired for a previously filed return.
(2) The additional tax to be paid shall not exceed the amount of tax that would be due if all facts, figures, computations, and attachments were reopened; i.e., the payment shall be the lesser of the two amounts.
(C) (1) In the case of an overpayment, a request for refund may be filed under this division (C) within the period prescribed by division (D) of this section for filing the amended return, even if it is filed beyond the period prescribed in that division if it otherwise conforms to the requirements of that division. If the amount of the refund is less than $10, no refund need be paid by West Alexandria. A request filed under this division (C) shall claim refund of overpayments resulting from alterations only to those facts, figures, computations, or attachments required in the taxpayer’s annual return that are affected, either directly or indirectly, by the adjustment to the taxpayer’s federal or state income tax return, unless it is also filed within the time prescribed in § 36.238.
(2) The amount to be refunded shall not exceed the amount of refund that would be due if all facts, figures, computations, and attachments were reopened. All facts, figures, computations and attachments may be reopened to determine the refund amount due by inclusion of all facts, figures, computations, and attachments.
(D) Within 60 days after the final determination of any federal or state tax liability affecting the taxpayer’s West Alexandria’s tax liability, that taxpayer shall make and file an amended West Alexandria return showing income subject to West Alexandria income tax based upon such final determination of federal or state tax liability. The taxpayer shall pay any additional West Alexandria income tax shown due thereon or make a claim for refund of any overpayment, unless the tax or overpayment is less than $10.
(Ord. 917, passed 7-19-2021)