Estimated Tax Worksheet - City Of Ionia Declaration Of Estimated Tax I-1040es


excess of the tax withheld. Therefore, declarations are required
other compensation for services rendered or work
only from individuals whose wages or other income is not subject
performed in Ionia, net rental income from property in
to city withholding tax and whose tax due exceeds the amounts
Ionia, net profits from a business, profession or other
specified in 2 below. In general, the definitions of income,
activity to the extent that it is from work done, services
deductions, exemptions, etc., are the same as those on form 1040.
rendered or activity conducted in Ionia, capital gains less
capital losses from the sale of real or tangible personal
2. Who must make a Declaration: Individuals and
property located in Ionia.
Unincorporated Businesses-Every resident or non-resident who
expects taxable income from which the city income tax will not be
5. How to File: Your annual return for the preceding year
withheld, must file a Declaration of Estimated Income Tax. A
may be used as the basis for computing your declaration of
Declaration is not required if the estimated tax on line 6 is less than
estimated tax for the current year. You may use the same
one hundred dollars ($100.00). Joint filers must file a joint
figures used for estimating your federal income tax adjusted
to exclude any income or deductions taxable or permissible
under the Ionia Income Tax Ordinance.
Corporations- Every corporation subject to the tax on all or
part of its net profit must file a Declaration of Estimated
6. Withholding Tax Credits and Other Credits (line 5):
Income Tax. A Declaration is not required from
Withholding Tax Credit You may subtract from your
corporations if the estimated tax on line 6 is Two Hundred
estimated Ionia Income Tax (line 4), the amount of Ionia
Fifty Dollars ($250.00) or less.
income tax expected to be withheld or overpayment of
previous year's City of Ionia Income Tax final return.
Partnerships - A partnership whose partners are subject to
Income Tax paid by Partnership If you are a member of a
the tax on all or part of their distributive share of net profits
partnership which elects to file a return and pay the tax on
may file a Declaration of Estimated Income Tax, and the
behalf of its partners, you may subtract from your estimate
partners will not be required to file as individuals unless
of Ionia income tax, the amount of tax expected to be paid
they have other income which the Ionia income tax is
by the partnership for your distributive share of net profits.
expected to exceed one hundred dollars ($100.00). The
Income Tax Paid to Another Michigan City If you are a
names, addresses and social security numbers of the
resident of the City of Ionia and pay income tax to another
partners on whose behalf the Declaration is filed shall be
city in Michigan on income earned outside the City of Ionia,
shown on a separate schedule.
you may subtract from your estimate of Ionia Income Tax
the amount of income tax expected to be paid to another
city. The credit may not exceed the amount of taxes
3. When and Where to File Declarations and Pay Tax:
a. Calendar Year - The Declaration for the year must be
assessable under the Ionia Income Tax Ordinance on the
filed on or before April 30 of the present year or when
same income.
you become liable during the year.
7. Amended Declaration: If, after you have filed a
b. Fiscal Year - The Declaration for a fiscal period must be
Declaration, you find that your estimated tax is substantially
made within four (4) months after the beginning of the
increased or decreased as a result of a change in your income
fiscal period.
or exemptions, you may amend your estimate at the time of
making any quarterly payment. Use the form provided or
c. Filing - The Declaration shall be filed with the City
you may obtain forms or information from the Income Tax
Income Tax Division, PO Box 512, Ionia, Mi 48846.
Division, 114 N. Kidd Street, PO Box 512, Ionia, MI
48846 or by calling 616-527-5729.
d. Payment - The estimated tax may be paid in full with the
Declaration or in four (4) equal installments on or
8. Penalties and Interest: If the total amount of tax
before April 30, June 30, September 30 and January 31.
withheld or paid by Declaration is less than seventy percent
Each installment must accompany one of the vouchers
(70%) of the tax due of the current or immediately
provided. Seventy percent (70%) of the taxpayer's total
preceding year, interest and penalties will be charged.
tax due or previous year tax due must be paid by
January 31st.
9. A worksheet is provided on the next page. Please retain
the worksheet for your records.
e. Always file Voucher 1 with initial payment whenever
you become liable during the year.
10. An Annual Return is required to be filed by the due date.
I-1040 and calendar year due date is April 30th.
4. Income Subject to the Ionia Income Tax (line 1):
Residents - All salaries, wages, bonuses, commissions and
other compensation, net profits from business or profession,
net rental income, capital gains less capital losses, dividends,
interest, income from estates and trusts and other income.
Non-residents – Salaries, wages, bonuses, commissions or
ESTIMATED TAX WORKSHEET (Keep For Your Records - Do Not File)


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