04-18 Amend Municipal Net Profit Taxes 128.22 - 128.2215

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If a taxpayer that has made the election allowed under 128.22 of the Codified Ordinances fails to pay any tax as required under sections 128.22 to 128.2215 of the Codified Ordinances, or any portion of that tax, on or before the date prescribed for its payment, interest shall be assessed, collected, and paid, in the same manner as the tax, upon such unpaid amount at the rate per annum prescribed by section 5703.47 of the Revised Code from the date prescribed for its payment until it is paid or until the date an assessment is issued under section 128.22 of the Codified Ordinances, whichever occurs first. 128.2208 DECLARATION OF ESTIMATED TAXES. (a) As used in this section: (1) "Combined tax liability" means the total amount of a taxpayer's income tax liabilities to all municipal corporations in this state for a taxable year. (2) "Estimated taxes" means the amount that the taxpayer reasonably estimates to be the taxpayer's combined tax liability for the current taxable year. (b)(1) Except as provided in subsection (b)(4) of this section, every taxpayer shall make a declaration of estimated taxes for the current taxable year, on the form prescribed by the tax commissioner, if the amount payable as estimated taxes is at least two hundred dollars. (2) Except as provided in subsection (b)(4) of this section, a taxpayer having a taxable year of less than twelve months shall make a declaration under rules prescribed by the commissioner. (3) The declaration of estimated taxes shall be filed on or before the fifteenth day of the fourth month after the beginning of the taxable year or on or before the fifteenth day of the fourth month after the taxpayer becomes subject to tax for the first time. (4) The tax commissioner may waive the requirement for filing a declaration of estimated taxes for any class of taxpayers after finding that the waiver is reasonable and proper in view of administrative costs and other factors. (c) Each taxpayer shall file the declaration of estimated taxes with, and remit estimated taxes to, the tax commissioner at the times and in the amounts prescribed in subsection (c)(1) of this section. Remitted taxes shall be made payable to the treasurer of state. (1) The required portion of the combined tax liability for the taxable year that shall be paid through estimated taxes shall be as follows: (A) On or before the fifteenth day of the fourth month after the beginning of the taxable year, twenty-two and one -half per cent of the combined tax liability for the taxable year; (B) On or before the fifteenth day of the sixth month after the beginning of the taxable year, forty-five per cent of the combined tax liability for the taxable year;