You must file as annual tax return by IRS due date each year. As part of your annual tax return, a declaration of estimate may be required, when your tax liability to the City of Lorain exceeds two hundred dollars ($200.00). The first estimate should be paid with the annual tax return. Subsequent payments are due June 15th, Sept. 15th and Dec. 15 of the current year. If no estimate payments are made, then a penalty will be assessed at the time of filing, on the amount of tax due.