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

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(b) The original declaration or any subsequent amendment thereof may be increased or decreased on or before any subsequent quarterly payment date as provided for herein. $~CTION 128.1306 PAY}~NT TO ACCOMPANY DECLARATION Such declaration of estimated tax to be paid to the City sha. il be accompanied by a payment of at least one-fourth (1/4) of the estimated annual tax and at least a similar amount shall be paid on or before the last day of the sixth and ninth months after the beginning of the taxable year, and on or before the last day of' the first month of the succeeding year following the taxable year. Provided, however, that in case an amended declaration has been filed, the unpaid balance shown due thereon Shall be paid in equal installments on or before the remaining payment, date or dates. SECTION 12~.1307 ANNU}~ RETURN On or before the last 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 City shall be paid therewith in accordance with the provisions of Section 128.1301 hereof. Provided, however, that any taxpayer may file, on or before the last daN of the first month of the year following that" for which such declaration or amended declaration was filed, an annual return and pay any balance due at such time in lieu of filing such d~claration or an amended declaration, and in lieu of paying the final quarterl~ installment based Upon a. declaration or amended declaration of estimated tai. SECTION 128,,1501 INTEREST ON UNPAID TAX Ail taxes imposed and all monies withheld or required'to be withheld ~y employers and all installments of estimated taxes required to be paid under the provisions of this Chapter and remaining unpaid after they become due, shall bear interest at the rate of six per cent (6%) per annum. SECTION 128.1502 PENALTIES ON UNPAID TAX In addition to interest as provided in Section 128.1501 hereof, penalties based on the unpaid tax or installments of estimmted tax are hereby imposed as follows: (a) For failure to pay taxes or estimated taxes due, other than taxes withheld: ten per cent (10%) per annum, but not less than $5.oo-. (b) For faildre to remit taxes withheld from employees: ten per cent (10%) per month or fraction ~hereof, but accumulated penalty shall not exceed fifty per cent (50%) upon any unpaid amount and shall not be less than $5.00. · SECTION 128. 1504 AI~%TE}~.NT OF INTEREST AND PENALTY. Either the Administrator hereunder.or the Board of Review may abate penalty or interest, or both, for good cause shown.