1988 019 Ordinance - Laserfiche WebLink

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73 Income Tax 175.1305 175.1303 DECLARATION OF INCOME NOT COLLECTED AT SOURCE. ' Every person shall file a declaration setting forth estimated taxable income, in- cluding distributive shares of net profits of unincorporated business entities, estimated to be earned by the taxpayer during the current tax year, together with the estimated tax due thereon, less the tax withheld within the Municipality and less the tax credit allowed in Section 175.1901 hereof. (Ord. 71-50. Passed 12-20-71. ) 175.1304 TIME OF FILING. (a) The declaration required by Section 175.1303 shall be filed on or before April 30 of each year during the effective period set forth in Section 175.0502 or within four months of the date the taxpayer becomes subject to tax for the first time. (b) Except as provided in this section, every person shall file a declaration setting forth taxable income, including distributive shares of net profits of unincorporated business entities, estimated to be earned during the current tax year, together with the estimated tax due thereon, less the amount withheld within the Municipality and less the tax credit allowed in Section 175.1901, unless the entire taxable income is subject to withholding within the.Municipality as provided in this chapter, If the estimated tax for the current year, less the tax to be withheld and less such tax credit, amounts to not more than ten dollars ($10.00), no declaration of payment of estimated tax is required. (Ord. 73-41. Passed 11-19-73. ). 175.1305 FORM OF DECLARATION. (a) The declaration required by Section 175.1303 shall be filed upon a form furnished by or obtainable from the Administrator. As provided in Section 175.1303 hereof, credit shall be taken for Municipal tax to be .withheld from -any portion of such income and credit shall be taken for tax to be paid or withheld and remitted to another taxing municipality, in accordance with the provision of Section 175.1901. (b) The original declaration or any subsequent amendment thereof may be increased or decreased on or before any subsequent quarterly payment date as provided for herein, Such declaration of estimated tax to be paid to the 1Vlunicipality shall be accompanied by a payment of at least one-fourth of the estimated annual tax and at least a similar amount shall be paid on or before the last day of the sixth and ninth months after the beginning of the taxable year, and on or before the last day of the first month of the succeeding year following the taxable year. However, in case an amended declaration has been filed, the unpaid balance shown due thereon shall be paid in equal installments on or before the remaining payment date or dates. (Ord. 71-50. Passed 12-20-71.) 1988 Replacement