Individual Earning Tax Return - Elmwood Place Income Tax Bureau Page 2

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NOTE:
Page 2 must be completed if you have taxable rental property or business income.
THIS PAGE TO BE COMPLETED ONLY BY THOSE WHO HAVE MUNICPAL TAXABLE INCOME OTHER THAN
WAGES OR WHO CLAIM EXPENSES AS A DEDUCTION FROM SUCH WAGES.
13. PROFIT FROM ANY BUSINESS OWNED (ATTACH COPY OF FEDERAL SCHEDULE C)
$
14. RENTAL INCOME (ATTACH COPY OF FEDERAL SCHEDULE E)
$
15. OTHER TAXABLE INCOME (ATTACH COPY OF APPROPRIATE FEDERAL SCHEDULE)
$
16. TOTAL OTHER INCOME (LINES 14 THRU 16)
$
17. CREDITS/DEDUCTIONS
a. EMPLOYMENT EXPENSES INCLUDED IN LINE 1 THAT ARE ALLOCABLE TO ELMWOOD PL. ATTACH
$
SCHEDULE 2106
b. NON-TAXABLE OR NET LOSS PER PREVIOUS RETURN
$
c. TOTAL CREDITS/DEDUCTIONS
$
18. NET OTHER TAXABLE INCOME (INSERT IN LINE 2 PAGE 1)
$
INSTRUCTIONS
FOR COMPLETION OF LINES 1 THRU 18
Should be the total of gross wages received. If two income family, W-2’s should be added together. All W-2’s must be attached.
1.
(Photocopies acceptable).
2.
To be completed only if you are required to complete page 2. NOTE: Business/Rental losses may NOT be used to offset wages.
Credit for tax paid to another City is limited to 2% of the amount of income on which tax was withheld. You must take each W-2 and compute the
5.
tax credit individually – then insert the total of those tax credits on Line 5c.
a.
List tax-withheld by employer for Elmwood Place
b.
Total estimated tax paid to Elmwood Place
c.
Credit for tax paid to another City must be adjusted to credit limitation of 2% on that portion of income taxed by said City.
Tax credit per individual may not exceed 2%. Excess credit paid to other Cities may not be applied to spouses tax credit.
d.
Overpayment carried forward from prior year.
e.
Total lines 5a through 5d.
7.
OVERPAYMENT WILL BE APPLIED TO CURRENT YEAR ESTIMATE UNLESS RESIDENT MOVED OUT OF ELMWOOD PLACE.
Insert the amount of income you expect to make this year. Estimation should not be less than last years earnings unless otherwise noted.
8.
11.
You may pay the entire amount declared with the filing of this form.
If you intend to continue in business, in addition to working, please advise in order that you may be sent a business form in the future. Since any
13.
expenses must be audited, your business or professional expenses cannot be accepted without a Schedule C or E. This also applies to Lines 14
and 15.
A-Credit will be allowed only when a W-2 is attached and all expenses must be substantiated by proper schedules. B-Applicable for non-residents
17.
where the employer withholds on their entire salary, attach W-2.
NOTE: UNLESS ACOMPANIED BY PAYMENT OF THE BALANCE OF THE
TAX DECLARED DUE (LINE 6) AND AT LEAST ¼ OF THE ESTIMATED
TAX FOR
(LINE 10) THIS FORM IS NOT A LEGAL FINAL RETURN OR DECLARATION.
DECLARATION AND RETURN PAYMENT CALDENDAR
APRIL 30, 2001
JULY 31, 2001
OCT. 31, 2001
JAN. 31, 2002
APRIL 30, 2002
Filed Declaration
Make 2
Make 3
Make 4
File return. Pay
nd
rd
th
With 1/4
payment
quarterly payment
quarterly payment
quarterly payment
any balance due.
th

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