181.10 DECLARATIONS OF ESTIMATED TAX LIABILITY.

   (a)    Every person who anticipates any taxable income which is not subject to Section 181.09 or who engages in any business, profession, enterprise or activity subject to the tax imposed by Section 181.03 , and such income results in estimated tax due of one hundred dollars ($100.00) or more, 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. However, if a person's income is wholly from wages, salaries, commissions or other compensation from which the tax will be withheld and remitted to the Municipality in accordance with Section 181.09 such person need not file a declaration.

   (b)    Except for taxpayer filing on a fiscal year basis, such declarations shall be filed on or before April 15 of each year during the effective period of this chapter or on or before the fifteenth day of the fourth month the taxpayer becomes subject to tax for the first time.

   (c)    Those taxpayers reporting on a fiscal year basis shall file a declaration on or before the fifteenth day of the fourth month after the beginning of each fiscal year or period.

   (d)    Such declaration shall be filed upon a form furnished by or obtainable from the Tax Commissioner or an acceptable generic form provided, however, credit shall be taken for the Municipal tax to be withheld from any portion of such income.

   (e)    The original declaration or any subsequent amendment thereof may be increased or decreased on or before any subsequent quarterly payment day as provided for herein.

   (f)    For taxpayers who are individuals, such declaration of estimated tax to be paid the Municipality 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 last day of the seventh, tenth and thirteenth months after the beginning of the taxable year. For taxpayers who are not individuals, such declaration of estimated tax to be paid the Municipality 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 day of the sixth, ninth and twelfth months after the beginning of the taxable year.

(Ord. 73-05. Passed 12-6-05.)

   (g)   Filing a Declaration Without a Payment. The mere submission of a declaration estimating a tax liability shall not constitute filing unless accompanied by the required payment.

   (h)   On or before April 15 or the fifteenth 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 Municipality shall be paid therewith in accordance with the provisions of Section 181.05 .

   (i)    The Tax Commissioner shall not impose any penalty or interest for the late payment or nonpayment of estimated tax liability or for not filing a declaration:

      (1)   On any resident taxpayer who was not domiciled in the Municipality on the first day of January in the year in which the taxpayer became subject to filing a declaration and making estimated payments.

      (2)   If a taxpayer has remitted pursuant to this section an amount equal to one hundred percent (100%) of the previous year’s tax liability, provided that the previous year reflected a twelve-month period and that taxpayer filed a return for that year.

      (3)   On estimated payments if the taxpayer has remitted, by the fourth estimated payment due date an amount equal to ninety percent of the final tax liability for the tax year due.

      (4)   Compliance with subsections (i)(2) and (3) hereof does not exempt assessments for late estimated payments.

   (j)   A declaration of estimated tax which is less than ninety percent (90%) of the tax shown on the final return shall not be considered in good faith. The difference shall be subject to penalties and interest as provided for in Section 181.15 .

(Ord. 68-09. Passed 11-17-09.)