71-10 Amend Chpt 128, Municipal Income Tax

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(2) Where any portion of the tax has been paid by the taxpayer pursuant to the provisions of Section 128.1303 or, (3) Where an income tax has been paid on the same income to another municipality, credit for the amount so deducted or paid, or credit to the extent provided for in Section 128.1902, 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. (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 overpayment 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 five dollars ($5.00) shall be collected or refunded. (c) If any employer which is liable for tax obligations imposed by this chapter undergoes a fundamental change, then the employer and its manager shall be liable for taxes due up to the date of the fundamental change. Taxes and final tax returns shall be due immediately after the fundamental change. Any successor employer shall withhold from any purchase price that the successor owes to the predecessor an amount sufficient to pay all unpaid taxes, interest and penalty which the predecessor employer owes pursuant to this chapter. The successor employer shall make such withholding until such time that the predecessor employer has paid such taxes, interest and penalties. If the successor fails to withhold such amount, theh the successor, and in a personal manner, the successor's manager shall be jointly and severally liable for the payment of such taxes, interest and penalty. 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 income, salary, wages,. commission or other compensation, the tax of one and one-half percent (1-1/2%) per annum of the gross income, salaries, wages, commissions or other compensation due by the employer to each 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. However, if the amount of the tax so deducted by an employer is less than one hundred dollars ($100.00) per month based on the previous tax year's quarterly average, the employer may defer the filing of a return and payment of the amount deducted until the last day of the month following the end of the calendar quarter. (b) Such returns shall be on a form or forms prescribed or acceptable to the Administrator and shall be subject to the rules and regulations prescribed therefor by the Administrator. The employer shall be liable for the payment of the tax required to be deducted and withheld whether or not such taxes have, in fact, been withheld. (c) The employer in collecting the 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.