71-10 Amend Chpt 128, Municipal Income Tax

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factory, office, laboratory or activity within the City .constituting aportion only of its total business, the Administrator shall require such additional information as he mayy deem necessary to ascertain whether net profits are properly allocated to the City. If the Administrator finds that net profits are not properly allocated to the City by reason of transactions with stockholders or with other corporations related by stock ownership, interlocking directorates or transactions with such division, .branch, factory, office, laboratory or activity or by some other method, he shall make such allocation as he deems appropriate to produce a fair and proper allocation of net profits to the City. 128.1105 AMENDED RETURNS. (a) Where necessary, an amended return must be filed in order to report additional income and pay any additional tax due, or claim a refund of tax overpaid, subject to the requirements, limitations, or both, contained in Sections 128.1701, 128.1702, 128.1703 and 128.1902.. Such amended return shall be on a form obtainable on request from the Administrator. A taxpayer may not change the method of accounting or apportionment of net profit after the due date for filing the original return. (b) Within three months from the final determination of any federal tax liability affecting the taxpayer's City tax liability,. such taxpayer shall make and file an amended City return showing income subject to the City tax based upon such final determination of federal tax liability and pay any additional tax shown due thereon or make claim for refund of any overpayment. PAYMENT OF TAX 128.1301 PAYMENT OF TAX ON FILING OF RETURNS. (a) The taxpayer making a return shall at the time of filing thereof, pay to the Administrator the amount of taxes shown as due thereon provided, however, that: (1) Where any portion of the .tax so due has been deducted at the source pursuant to the provisions of Section 128.1302 or, (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 one dollar ($1.00) 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 emptoyer has paid such taxes, interest and penalties. If the successor fails to withhold such amount, then 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.