(a) Any person whose only income is exempt from the tax imposed by this chapter must file an exemption certificate declaring the nature of the exemption. Each taxpayer who engages in business, or whose salaries, qualified wages, commissions and other compensation are subject to the tax imposed by this chapter shall, whether or not a tax is due thereon, make and file a return on or before April 15 of each year with the Department of Taxation on a form furnished by or obtainable from the Department, setting forth the aggregate amount of salaries, qualified wages, commissions and other compensation earned and/or net profits earned and/or gross income from such business less allowable expenses in the acquisition of such gross income earned during the preceding year and subject to the tax, together with such other pertinent information as the Administrator may require. Provided, however, that when the return is made for a fiscal or other period different from the calendar year, the return shall be made on or before the fifteenth (15) day of the fourth month after the close of the fiscal year or other period.
(b) Commencing with taxable years beginning subsequent to December 31, 1982, the net loss from an unincorporated business activity may not be used to offset salaries, wages, commissions or other compensation, and subsequent to December 31, 2000 on the net profits from a resident’s share in a Subchapter S corporation. However, if a taxpayer is engaged in two or more taxable unincorporated business activities to be included in the same return, the net loss of one unincorporated business activity (except any portion of a loss separately reportable for municipal tax purposes to another taxing entity) may be used to offset the profits of another for purposes of arriving at overall net profits from unincorporated business activities. Commencing with taxable years beginning subsequent to December 31, 2000, the net loss from a resident’s share of a Subchapter S corporation may not be used to offset salaries, qualified wages, commissions or other compensation or the net profits from an unincorporated business activity. However, if a resident taxpayer is a shareholder in two or more Subchapter S corporations included in the same return, the net loss of one Subchapter S corporation (except any portion of a loss separately reportable for municipal tax purposes to another taxing entity) may be used to offset the profits of another for purposes of arriving at overall net profits from a resident’s share in Subchapter S corporations. A husband and wife in any taxable year, may elect to file separate or joint returns.
(c) If a net operating loss has been sustained in any taxable year such losses may not be carried forward or backward to any other taxable year. Nothing in Chapter 718.01 of the Ohio Revised Code requires the City to allow a net operating loss carry-forward.
(d) Affiliated corporations may not deduct a loss from any other corporation having a taxable profit. Operations of any affiliated corporation may not be taken into consideration in computing net profits or business allocation percentage formula of another.
(e) The taxpayer making a return shall at the time of the filing thereof, pay to the City the amount of taxes shown as due thereon; provided, however, that where any portion of the tax so due shall have been deducted at the source pursuant to the provisions of Section 1703.06 or where any portion of such tax has been paid by the taxpayer pursuant to the provisions of Section 1703.07 or where an income tax has been paid to another municipality, credit for the amount so paid in accordance with Section 1707.01 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 his income tax in any taxable year may request a refund provided there is no other tax liability and provided, further, that no amount less than one dollar ($1.00) will be refunded or collected.
(g) The Administrator shall have the authority to extend the time for filing of the annual return, provided the request of the taxpayer for extension is made in writing and received on or before the original due date of the return. If the extension is granted, the extended due date of the City’s income tax return shall be the last day of the month following the month to which the due date of the federal income tax return has been extended. The Administrator may require a tentative return, accompanied by payment of the amount of tax shown to be due thereon on or before the original due date. No penalty shall be assessed, in those cases in which the return is filed and the final tax paid within the period as extended.
(h) When the last day for filing a return falls upon a Saturday, Sunday or federal holiday, the taxpayer shall be permitted to file on or before the first business day following such Saturday, Sunday or federal holiday without penalty.
(i) A husband and wife may file either separate returns or a joint return for City purposes, even though one of the spouses has neither taxable income nor deductions included on the City’s return regardless of whether their federal and state returns were filed separately or jointly. If a joint city return is made, the tax shall be computed on the aggregate taxable income and the liability with respect to the tax shall be joint and several.
(j) The return shall be filed with the Tax Administrator or their authorized agent, on a form or forms furnished by or obtainable upon the request from the Tax Administrator; or on a generic form, if the generic form, when completed and filed, contains all of the information required to be submitted with the City’s prescribed return and, if the taxpayer or return preparer filing the generic form otherwise complies with the Tax Code governing the filing of returns.
(Ord. 53-2004. Passed 12-6-04.)