ARTICLE 6

DECLARATIONS

 

Section 6.01 Filing a Declaration

1. Every person who anticipates any taxable income which is not subject to Article 5, shall file a declaration setting forth such estimated income or the estimated profit or loss from such business activity together with the estimated tax due thereon, such declaration shall be filed on or before April 30, 1968 and thereafter a similar declaration shall be filed for each calendar year on or before April 30th of each ensuing year by all such taxpayers.

4. Such declaration shall be filed on a form furnished or obtainable from the Department of Taxation. Credit shall be taken for Village of Bellville tax withheld, if any, from any portion of such income. In addition, credit may be taken for tax paid or to be withheld and remitted to other taxing municipalities in accordance with Article 5, Section 5.01-2(b), "Credit for Tax Paid to Another Municipality."

3. The original declaration (or any subsequent amendment thereof) may be increased or decreased on or before any subsequent quarterly payment date as provided herein. A declaration may be amended at any time, provided, however, that the unpaid balance due shall be paid in equal installments on or before the remaining payment dates.

 

Section 6.02 Payment Accompanying Declaration

Such declaration of estimated tax to be paid the Village shall be accompanied by a payment of at least one-fourth (1/4) of the estimated annual Bellville Village Income Tax, and at least a similar amount shall be paid on or before June 30, September 30, and December 31 of such taxable year. Provided, however, that such estimate may be amended at the time of the making of any quarterly payment, and further provided that on or before April 30 of the year following that for which the declaration was filed, a final return shall be filed and any balance which may be due the Village shall be paid therewith. Should it appear that such taxpayer has paid more than the amount of the tax to which the Village would be entitled, a refund of the amount so overpaid shall be made, or same way is applied toward the declaration of tax due for the ensuing year. If the tax return is filed and paid within forty-five (45) days after the end of the tax year, the fourth quarter estimated tax payment may be eliminated.

A declaration of estimated tax that is less than ninety percent (90%) of the tax due as shown on the annual return shall not be considered as filed in good faith. The difference shall be subject to interest payment as provided for in Article 10, Section 10.01, "Interest and Penalties", of this Ordinance. An exception will be made if one hundred percent (100%) of the prior year tax liability has been paid in equal quarterly installments in the current year.