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183.05 RETURN AND PAYMENT OF TAX; MANDATORY FILING.

(a) (1) Effective for taxable years beginning in 2004 and thereafter, every person subject to the provisions of Section 183.02, including every resident individual 18 years of age and older, shall, whether or not a tax be due thereon, make and file a return on or before April 15 of each year with the Tax Administrator on a form obtainable from the Tax Administrator or on any acceptable generic form, setting forth the aggregate amount of income, salary, wages, commissions, or other compensation, and gross receipts from a business, less allowable expenses incurred in the acquisition of such gross receipts earned during the preceding year or period and subject to the tax; together with other pertinent information as the Tax Administrator may require. However, when the final return is made for a fiscal year or other period different from the calendar year, the return shall be filed within four months from the end of such fiscal year or period. No return shall be considered to have been filed unless it clearly sets forth the income and expenses attributable to the City and all required forms and documentation have been attached. An individual who is retired and has no income taxable to Loveland shall file an annual return for the year in which the retirement occurred and for the following year, indicating on the latter filing that no tax is due Loveland as a result of retirement, and also indicating the date of retirement. Such individual will then be exempt from the mandatory filing requirement; however, he/she must begin again to file annual returns if subsequently the taxpayer receives income taxable to Loveland.

(2) A husband and wife may file either separate returns or a joint return for City purposes, even though one of the spouses has neither taxable income nor deductions included on the City return regardless of whether their Federal and State returns were filed separately or jointly. If a joint City return is made, the tax shall be computed on the aggregate taxable income and the liability with respect to the tax shall be joint and several.

(b) The return shall also show the amount of tax imposed on such earnings and profits. The taxpayer making the return shall, at the time of the filing thereof, pay to the City the amount of taxes shown as due thereon. However, where any portion of the tax shall have been paid by such taxpayer pursuant to the provisions of Section 183.06 or 183.07, credit for the amount so paid shall be deducted from the amount shown to be due, and only the balance, if any, shall be due and payable at the time of filing the final return.

(c) The return of an employer or employers showing the amount of tax deducted by said employer or employers from the salaries, wages, commissions or other compensation of any nonresident employee, and paid by him or them to the City, shall be accepted as the return required of any nonresident employee whose sole income subject to the tax is such salary, wage, commission or other compensation.

(d) The City shall accept a generic form if the generic form once completed and filed, contains all of the information required to be submitted with the City's prescribed returns, reports or documents, and if the taxpayer or return preparer filing the generic form otherwise complies with the rules or ordinances of the City governing the filing of returns, reports or documents.

(e) Where necessary an amended return must be filed in order to report additional income and pay any additional tax due, or claim a refund of tax overpaid, subject to the requirements and/or limitations contained in Sections 183.08 and 183.12. Such amended returns shall be on a form obtainable, upon request, from the Tax Administrator. A taxpayer may not change the method of accounting (i.e., cash or accrual) or appointment of net profits after the due date for filing the original return. Within three months from the final determination of any federal tax liability affecting the taxpayer’s City tax liability, the taxpayer shall make and file an amended City return showing income subject to the City tax, based on the final determination of federal tax liability, and pay any additional tax shown due thereon or make claim for refund of any overpayment.

(f) The officer or employee of such employer having control or supervision or charged with the responsibility of filing the return and making the payment, shall be personally liable for failure to file the return or pay the tax, penalties, or interest due as required herein. The dissolution, bankruptcy or reorganization of any such employer does not discharge an officer’s or employee’s liability for a prior failure of such business to file a return or pay taxes, penalties or interest due.

(g) Any business, profession, association or corporation reporting a net loss is subject to the filing requirements of this chapter.

(h) Amounts of less than two dollars ($2.00) shall not be collected or refunded upon the filing of the annual return.

(i) Failure to file any required return or documentation in a timely manner as prescribed by this section shall subject the taxpayer to a late filing penalty as prescribed in Sections 183.11 and 183.97.

(Ord. 2004-84. Passed 12-17-04.)