73-71 Repeal & enact new sections in Admin relating to Muni Income tax

Home Browse Search

at the time of filing said return. (b) A taxpayer who has overpaid the amount of tax to which the City is entitled under the provisions of this Chapter may have such over- payment applied against any subsequent liability hereunder, or, at his election, indicated on the return, such overpayment (or part thereof) shall be refunded, provided that no additional taxes or refunds of less than One Dollar ($1.00) shall be collected or refunded. SECTION 128.1302 COLLECTION AT SOURCE (a) In accordance with Rules and Regulations prescribed by the Administrator, each employer within or doing business within the City shall deduct, at the time of the payment of such salary, wages, commission or other compensation, the tax of one per cent (1%) per annum of the gross salaries, wages, commissions or other compensation due by the said employer to said employee, and shall, on or before the last day of each month, make a return and pay to the Administrator the amount of taxes so deducted during the previous month; provided, however, that if the amount of the tax so deducted by an employer in any one month is less than $100.00, the employer may defer the filing of a return and payment of the ambunt deduced until the last day of the month following the end of the calendar quarter in which such ., month occurred. (b) Said returns shall be on a form or forms prescribed or accept- able to the Administrator and shall be subject to the Rules and Reg- ulations:prescribed therefor by the Administrator. Such employer shall be~-liable for the pa~aent of the tax required to be deducted 'and withheld wtiether or not such taxes have, in fact, been withheld. (c) Such employer in collecting said tax shall be deemed to hold the same until payment is made by such employer to the City as a Trustee for the benefit of the City, and any such tax collected by such employer from his employees shall, until the same is paid to the City be deemed a trust fund in the hands of such employer. (d) No person shall be required to withhold the tax on wages or other compensation paid domestic servants employed by him exclusively in or about such person's residence, even though such residence is in the City, but such employee shall be subject to all of the requirements of this Chapter. SECTION 128.1303 DECLARATIONS OF INCO}~ NOT COLLECTED AT SOURCE Every person shall file a declaration setting forth estimated taxable income, including distributive shares of net profits-of unincorporated business e~tities, estimated to be earned by the taxpayer during the current tax year, together with the estimated tax due thereon, less the tax withheld within the City and less the tax credit allowed in Section 128.1902 hereof. SECTION 128.1305 FORM OF DECLARATION (a) The declaration required by Section 128.1303 hereof shall be filed upon a form furnished by or obtainable from the Administrator. As provided in Section 128.1303 hereof, credit shall be taken for the City tax to be withheld from any portion of such income and credit shall be ~akcn for tax to be paid or withheld and remitted to another taxing munlcip,~lity, in accordance'with the provisions of Section 128. 1902 hereof. -3-