38-16 Amend Income Tax Code to Conform with ORC

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(b) (1) An employer, agent of an employer, or other payer shall remit to the Tax Ad- ministrator of the Municipality the greater of the income taxes deducted and withheld or the income taxes required to be deducted and withheld by the employer, agent, or other payer, along with any report required by the Tax Administrator to accompany such pay- ment, according to the following schedule: (A) Any employer, agent of an employer, or other payer not required to make payments under division (b)(1)(B) of this section of taxes required to be deducted and withheld shall make quarterly payments to the Tax Administrator not later than the last day of the month following the last day of each calendar quarter. (B) Taxes required to be deducted and withheld shall be remitted monthly to the Tax Administrator if the total taxes deducted and withheld or required to be deducted and withheld by the employer, agent, or other payer on behalf of the municipal corporation in the preceding calendar year exceeded two thousand three hundred ninety -nine dollars, or if the total amount of taxes deducted and withheld or required to be deducted and with- held on behalf of the Municipality in any month of the preceding calendar quarter ex- ceeded two hundred dollars. Payments under division (b)(1)(B) of this section shall be made so that the payment is made to the Tax Administrator not later than fifteen days af- ter the last day of each month. (C) An employer, agent of an employer or other payer may be required to make payment by electronic funds transfer to the Tax Administrator of all taxes deducted and withheld on behalf of the employee for remittance to the Municipality if the employer, agent of an employer, or other payer is required to make payments electronically for the purpose of paying federal taxes withheld on payments to employees under section 6302 of the Internal Revenue Code, 26 C.P.R. 31.6302 -1, or any other federal statute or regula- tion. The payment of tax by electronic funds transfer under this division does not affect an employer's, agent's, or other payer's obligation to file any return as required under this section. Once the threshold for remitting payment electronically for federal purposes has been met, any accrued municipal income tax withheld from employee qualifying wages earned within the Municipality shall be remitted to the Municipality at the same time that the federal tax withholding payment is due. (c) An employer, agent of an employer, or other payer shall make and file a return showing the amount of tax withheld by the employer, agent, or other payer from the qual- ifying wages of each employee and remitted to the Tax Administrator (d) An employer, agent of an employer, or other payer is not required to withhold municipal income tax with respect to an individual's disqualifying disposition of an in- centive stock option if, at the time of the disqualifying disposition, the individual is not an employee of either the corporation with respect to whose stock the option has been is- sued or of such corporation's successor entity. (e) (1) An employee is not relieved from liability for a tax by the failure of the em- ployer, agent of an employer, or other payer to withhold the tax as required under this chapter or by the employer's, agent's, or other payer's exemption from the requirement to withhold the tax. (2) The failure of an employer, agent of an employer, or other payer to remit to the Municipality the tax withheld relieves the employee from liability for that tax unless the employee colluded with the employer, agent, or other payer in connection with the failure to remit the tax withheld. (f) Compensation deferred before June 26, 2003, is not subject to any municipal cor- poration income tax or municipal income tax withholding requirement to the extent the deferred compensation does not constitute qualifying wages at the time the deferred com- pensation is paid or distributed. (g) Each employer, agent of an employer, or other payer required to withhold taxes is liable for the payment of that amount required to be withheld, whether or not such taxes have been withheld, and such amount shall be deemed to be held in trust for the Munici- pality until such time as the withheld amount is remitted to the Tax Administrator. (It) On or before the last day of February of each year, an employer shall file a With- holding Reconciliation Return with the Tax Administrator listing the names, addresses,