2004 023 Ordinance - Laserfiche WebLink

Home Browse Search

4:11 4:12 5:01 Taxation Prohibited by State of Ohio their tax and on or before Apri130th or Mazch 31st of each yeaz [hereafter, each taxpayer, whether an individual, corporation or unincorporated business entity A Salaries, wages, commission, other compensation and net profits, the taxation of subject [o the provisions of Section 2:01 through 2:07 of these Regulations, must which is prohibited by the Cmuimfion of the State of Ohio or any act of the Ohio make and file with the Admwsnator a return on a form prescribed by a-' General Assembly limiting the power of this municipahty to impose net income obtainable upon request from the Admhistrator whether or not a tax is due. taxes, are exempt from the tax imposed by the Ordinance. D. Fiscal Year Account - If the annual return is made for a fiscal yeaz or any pen The examples se[ forth in this Chapter are not all-inclusive. less [ban a yeaz, said return shall be made within four (4) months from the end of each fiscal year or other period. E Deelarafion of Estimated Tax Return -Except as provided in Section 6:O1.F, on CHAPTER 5:00 or before Apri130th of the year following the effective date of the Ordinance and on or before April 30th of each year thereafter, each taxpayer, whether an RETURNS individual, corporation or unincorporated business entity subject to the provisions of Sections 2:01 tluough 2:07 of these Regulations, must make and file with Ore Administrator an estimated tax return. If an estimate is no[ filed, an estimate may Relums andlteguirements be filed by the Admvistm[or if there is reason to believe an estimate will be owed. A. Annual Return Regtrirements -Each taxpayer, whether an individual, corporation F. Taxpayers who need not file an estimated return: or turincorporated business entity, subject [o the provisions of Section 2:01 through 2:07 of the Regulations, shall file a return or returns, as necessary, setting fonh the ~ 1. A taxpayey who resides in tlis municioaliy and who is employed aggregate amount of salaries; wages, commissions and other personal service ~ exclusively within this municipality and withheld at the source equal td the compensation; net profits from business or other activities, including the rental from existing tax rate of this municioality on all taxable income, need not file an use of real and personal property; and other income taxable under the Ordinance estimated tax return as set forth in Section S:O1.E of these Regulations. for the period covered by the return or returns and other pertinent facts and infomaatron 2. A taxpayer, who resides in this municinality (if this municipality grants a ]00% tax credit with a credit ]unit equal to the tax rate) and who has B. Who need not file an annual return: municipal taxes withheld at a source outside this municipality equal to or greater than the existing fax rate of this municipality on all taxable income, 1. Any person who has no income and meets the mvrimrm age requirements need not file an estimated tax return as set forth in Section S:OI.E of these must file an exemption . Any person who has exempt income must file a Regulations. return and declare to the Administator the nature of his exemption. Any person who has taxable income must file a far return with the Tax 3. A taxpayer, who has no taxable income (see Sections 4:01 through 4:12 Administrator. of these Regulations), need not file an estimated tax return as set forth in Secton S:O1.E of these Regulations. 2. Anon-resident individual of a member municipality who is employed m this municipalityand withheld at the source equal to the existing tax rate of this 4. Anon-resident, who is employed in this municipality and withheld at the municioalitvneed no[file anannual return as set forth in Section 5:01 A of source equal to the existing tax rate of this municinaliy need not file an these Regulations. estimated tax return as set forth m Section 6:OI.E of these Regulations. C. Dates and Requirements for Annual Returns -Except as provided in Section 5. A taxpayer, who has an estimated tax of $10.00 or less for the taxable S:OI.B on or before April 30th of the yeaz following the effective date of the yeaz, need not file an estmated tax return. Ordinance and on or before March 31st if the taxpayer wishes RTTA to compute 29 30 G. Non-reimbursed Business and Moving Expenses - An individual taxpayer who is whenever the facts ntdicate~that the taxpayers intended ro have the Sled tax return permitted for federal income tax purposes to deduct certain business expenses be ajoint return Conclusive indicafions of such intention include when the husband from gross wages, salaries or commissions (IRC Section 62), may file a copy of and wife both signed the tax return, when the return reports both spouses' income Federal Income Tax Form 2106 or an itemized statement of expenses with his or when the husband and wife were both required to file tax returns, but only one municipal tax rettun claiming only deductions allowable under Part 1 of Fotm spouse filed a tax return. 2106, no matter whether all or part of such wages, salaries or commissions are subject to withholding.. Expenses attributable to moving that ace deductible for J. Parmemhips and Other Uninwrporated Businesses -The taxis on the parhrers}ip federal tax purposes may be deducted if incurred after residency has been or other unincorporated business as an entity, whether resident ornon-resident' estab65hed or, if reimbursement was included in W-2 and the total reimbursement and a return is required disclosing the net profits allocable [o this rrwticioality and was included as involved income earned while a resident of this municipality. the tax paid thereon (see Sections 2:03 and 2:04 of these Regulations). m addition, arty resident partner or member of any unincorporated entity ta required H. Resident Combined Return - An individual taxpayer residing in this municipality to make a return and pay the fax on income allocable outside this municipality in who has taxable compensation (salary, wages, etc.) and who also has a dishibutive accordance with Sections 2:03.E and 2:04.D hereof. share ofnet profit or loss from an unincorporated business entity or total ownership of an uninwrporafed business entity, the net profit of which is wholly or paNy K. Fiduciary Returns - Tnrslees of busts and executors and admiristrators of estates subject to taxation by a RTTA municipality (or would be so subject if net profits having income taxable under the Ordinance ate regnhed to file returns andpay the existed), must report the taxable compensation and business net profit or loss on tax thereon (also see Section S:O1.J of these Regulations). the same return. However, whether or not such compensation and net profit or loss ate combined on one return, the following odes are to be applied: 5:02 Information Reunited and Reconciliafion With Federal Returns for Individuals or Businesses 1. There is to be no offset of business losses against wages and other A Information - m returns filed hereunder, there shall be set forth the aggregate employee compensafion ~ amount of salaries; wages, bonuses; incenfive payments, commissions, fees and other compensation subject to the tax earned from each employer, taxable net 2. 1o computing the tax on tutincorporated business entities: profits, and other pertinent infomration as the Administrator may regtite. a. A business loss may be offset against business net profit in are B. Items Not Taxable or Deductible -Where Sgures of total income, total deductions same municipality. and net profits are included as shown by a federal return, then any items of income as are not subject to municipal income tax and unallowable expenses shall be b. A business loss in one municipality may not be offset against elimirtatetl in defemrinvrg net income subject to municipal income tax. The Fact that business net profits in another municipality. any taxpayer is not required to file a federal income tax return does not reSeve him fiom filing a municipal income tax rettarl c. For this municiualiNs tax, a business loss m anon-taxing municipality may offset net profits ht this municipality and, C. Changes on return: alternatively, net profits in anon-taxing municipality may offset a business ]oss in this municipality 1. If a change m federal income tax liability as finally determined by the Federal Internal Revenue Serrice or by judicial decision results in an d. For this municipalitJs tax, income shall include the aggregate of all additional amount of tax payable to this municinahty, a repot[ of s btsiness losses and gains in all other taxing mmticipalities in which change shall be filed by the taxpayer within three (3) months from the I it operates, detemtirtadon of federal fret liability (see Secfion 5:06 hereof). I. Joint Filing - A husband and wife may file, in any tax yeaz, ajoint tax return. 2. If a change in federal income tax Sability results in a reduction of taxes Husband and wife are liablejoindy and severally for payment of the tax associated owed and paid to this mmiaoality a claim forreSmd slra- be filed with the with thejoint return. A husband andwife's tax return shall be deemed ajoint return 31 Administamr as prescribed in Sections 5:06 and 9:02 of these 32