71-10 Amend Chpt 128, Municipal Income Tax

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COLLECTION OF UNPAID TAXES AND REFUNDS OF OVERPAYMENTS 128.1701 UNPAID TAXES: RECOVERABLE AS OTHER DEBTS. All taxes imposed by this chapter shall be collectible, together with any interest and penalties thereon, by suit, as other debts of like amount are .recoverable. Except in the case of fraud, of omission of a substantial portion of income subject to this tax, or of failure to file a return, an additional assessment shall not be made after three years from the time the return was due or filed, whichever is later, provided that in those cases in which a Commissioner of Internal Revenue and the taxpayer have executed a waiver of the federal statute of limitations, the period within which an additional assessment may be made by the Administrator shall be one year from the time of the final determination of the federal tax liability. 128.1702 REFUNDS OF TAXES ERRONEOUSLY PAID. Taxes erroneously paid shall not be refunded unless a claim for refund is made within three years from the date which such payment was made or the return was due, or within three months after the final determination of the federal tax liability, whichever is later. 128.1703 AMOUNTS OF LESS THAN ONE DOLLAR. Amounts of less than one dollar ($1.00) shall not be collected or refunded. TAXPAYER RELIEF AND RECIPROCITY PROVISIONS 128.1901 NONRESIDENT TAXPAYERS. Section 128.1901 was repealed by Ordinance 73-71, passed December 20, 1971. 128.1902 TAX CREDIT. (a) When the taxable income of a resident of the City of Lakewood is subject to a municipal income tax in another municipality on the same income taxable under this chapter, such resident shall be allowed a credit of the amount of income tax Paid on such taxable income to such other municipality, equal to fifty percent (50%) of the amount obtained by multiplying the lower of the tax. rate of such other municipality or of the City of Lakewood by the taxable income earned in or attributable to the municipality of employment or business activi but, in any event, such credit shall not be applied to a rate in excess of one percentty(1%) of the taxable income earned in or attributable to the municipality of employment or business activity. For the pur oses of this section,. taxable income shall include the distributive share of net profits of a resident partner or owner of an unincorporated business entity. (b) A claim for credit or refund under this section shall be made in such manner as the Administrator may by regulation provide. In the event such Lakewood resident fails, neglects, or refuses to file an annual return or declaration on the form prescribed by the Administrator, he shall not be entitled to such credit or refund and shall be considered in violation of this chapter for failure to file a return. 128.1903 CLAIM FOR CREDIT. Section 128.1903 was repealed by Ordinance 73-71, passed December 20, 1971. DISBURSEMENT OF RECEIPTS OF TAX COLLECTION 128.2101 DISBURSEMENT OF FUNDS COLLECTED. The funds collected under the provisions of this chapter shall be disbursed in the