71-10 Amend Chpt 128, Municipal Income Tax

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or the estimated profit or loss from such business activity, together with the estimated tax due thereon, if any, and shall make the estimated payments required herein. (b) If the estimated tax for the current year, less the tax to be withheld and less the tax credit allowed in Section 128.1902, is less than one hundred dollars ($100.00), no declaration or payment of estimated tax is required. 128.1304 FILING OF DECLARATION. (a) The declaration required by Section 128.1303 shall be filed on or before the April 15 of each year during the effective period set forth in Section 128.0502 or within one hundred five (105) days of the date the taxpayer becomes subject to tax for the first time. (b) Those taxpayers reporting on a fiscal year basis shall file a declaration on or before the fifteenth day of the fourth month following the end of such fiscal year or period. 128.1305 FORM OF DECLARATION. (a) The declaration required by Section 128.1303 shall be filed upon a form furnished by or obtainable from the Administrator, or on an acceptable generic form as defined in this Chapter. Credit shall be taken for the City tax to be withheld from any portion of such income and credit shall be taken for tax to be paid or withheld and remitted to another taxing municipality, in accordance with the provisions of Section 128.1902. (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. 128.1306 PAYMENT TO ACCOMPANY DECLARATION. Such declaration of estimated tax to be paid to the City shall be accompanied by a payment of at least one-fourth of the estimated non-wtihheld or under-withheld tax due, and at least a similar amount shall be paid on or before the last day of the seventh and tenth months after the beginning of the taxable year, and on or before the last day of the first mohth of the succeeding year following the taxable year. However, if an amended declaration has been filed, the unpaid balance shown due thereon shall be paid in equal installments on or before the remaining payment dates. (a) If the taxpayer is an individual, at least a similar amount shall be paid on or before the last day of the seventh (7th), tenth (10th), and thirteenth (13th) months after the beginning of the taxpayer's taxable year, provided that in case an amended declaration has been filed, or the taxpayer is taxable for a portion of the year only; the unpaid balance shall be paid in equal installments on or before the remaining payment dates. (b) If the taxpayer is a corporation or association, at least a similar amount shall be paid on or before the fifteenth day of the sixth, ninth, and twelth months of the taxable year; provided; however, that in case an amended declaration has been filed,