31-15 Municipal Income Tax - Laserfiche WebLink

Home Browse Search

(2) To the taxpayer's current estimated tax liability. (Ord. 71 -10. Passed 11 -1- 10.) 128.1703 AMOUNTS OF LESS THAN FIVE DOLLARS. Amounts of less than five dollars ($5.00) shall not be collected or refunded. (Ord. 71 -10. Passed 11- 1 -10.) CREDIT FOR TAX PAID TO OTHER MUNICIPALITIES 128.1901NONRESIDENT TAXPAYERS. Section 128.1901was repealed by Ordinance 73 -71, passed December 20, 1971. (Ord. 71 -10. Passed 11- 1 -10.) 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 un- der 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 per- cent (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 activity but, in any event, such credit shall not be applied to a rate in excess of one per- cent (1 0/6) of the taxable income earned in or attributable to the municipality of employment or business activity. For the purposes of this section, taxable in- come 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 oil 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 re- turn. (Ord. 71 -10. Passed 11- 1 -10.) 128.1903 CLAIM FOR CREDIT. Section 128.1903 was repealed by Ordinance 73 -71, passed December 20, 1971. (Ord. 71 -10. Passed 11- 1 -10.) 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 col- lecting 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 subsec- tion (a) hereof shalt be deposited in the General Fund for municipal purposes. (Ord. 71 -10. Passed 11- 1 -10.) 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 chap- ter in the manner prescribed herein from the taxpayers, to keep all accurate rec- ord thereof, and to report all moneys so received. (Ord. 71 -10. Passed l l- 1 -10.) 128.2302 DUTY TO ENFORCE COLLECTION 17