880.07 DECLARATIONS.
(a) (1) Filing requirements. Every person, association, corporation, fiduciary and partnership who anticipates a tax liability of five hundred dollars ($500.00) or more which is not subject to Section 880.06, such person need not file a declaration. (Ord. 05-49. Passed 12-15-05.)
(2) Due dates. Declaration and payment of estimated tax shall be filed on or before April 15 of each year or four months after the end of the taxpayer’s fiscal year end. Quarterly payments of the estimated tax shall be due and payable as follows, or 30 days after the end of the taxpayer’s quarter based on a fiscal year other than January 1 through December 31, except for the first quarter payment which is due fifteen (15) days after the end of the taxpayer’s first quarter, to achieve the following cumulative percentages of the estimated tax, at a minimum:
April 15
22 ½%
July 31
45%
October 31
67 ½%
January 31
90%
(3) Failure to file penalty. For failure to file a declaration of estimated tax liability on or before April 15th or by the fifteenth day of the fourth month from the end of such fiscal year or period, there shall be imposed a penalty of fifty dollars ($50.00).
(4) Failure to pay penalty. A penalty of ten percent (10%) shall be charged for any under payment of estimated tax liability except if ninety percent (90%) of the income tax due for the current taxable year is paid by January 31st or if an amount at least equal to one hundred percent (100%) of the taxpayer’s tax liability for the preceding year as shown on the return filed by the taxpayer for the preceding year, provided that the taxpayer filed a return for the preceding year and the return for the preceding year reflected a twelve-month period. The minimum penalty per annum shall be one hundred dollars ($100.00). (Ord. 10-28. Passed 6-17-10.)
(b) (1) Such declaration shall be filed on or before April 15 of each year during the life of this chapter, or within four months of the date of the taxpayer becomes subject to tax for the first time.
(2) Those taxpayers on a fiscal year basis may file a declaration within four months after the beginning of each fiscal year or period.
(Ord. 05-3. Passed 1-6-05.)
(c) (1) Such declaration shall be filed upon a form furnished by, or obtainable from, the Administrator, provided, however, that credit shall be taken for the Municipal income tax to be withheld from any portion of such income. In accordance with Section 880.15, credit may be taken for tax to be paid to, or to 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 provided for herein.
(d) Such declaration or estimated tax to be paid to the Municipality shall be accompanied by a payment of at least one-fourth 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, provided, however, that in case an amended declaration has been filed, the unpaid balance shown to be due thereon shall be paid in equal installments on or before the remaining payment dates. (Ord. 782. Passed 1-18-79.)
(e) On or before the fifteenth (15) 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 to the Municipality shall be paid therewith in accordance with Section 880.05. (Ord. 05-3. Passed 1-6-05.)