71-10 Amend Chpt 128, Municipal Income Tax

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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 activity but, in any event, such credit shall not be applied to a rate in excess of one percent (1%) of the taxable income earned in or attributable to the municipality of employment or business activity. For the purposes 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 Section 128.1903 was repealed by Ordinance 73-71, passed December 20, 1971.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 following manner: (a) First, such part thereof as shall be necessary to defray all expenses of collecting. the tax and of administering and enforcing the provisions of this chapter shall be paid. (b) The balance remaining after payment of the expenses referred to in subsection (a) hereof shall. be deposited in the General Fund for municipal purposes. DUTIES AND AUTHORITY OF THE ADMINISTRATOR 128.2301 DUTY TO RECEIVE TAX IMPOSED. It shall be the duty of the Administrator to receive the tax imposed by this chapter in the manner prescribed herein from the taxpayers, to keep an accurate record thereof, and to report all moneys so received. 128.2302 DUTY TO ENFORCE COLLECTION. It shall be the duty of the Administrator to enforce payment of all taxes owing to the City, to keep accurate records for a minimum of six (6) years showing the amount due from each taxpayer required to file a declaration and make any return, or both, including taxes withheld, and to show the dates and amounts of payments thereof..