Estimated Tax Worksheet

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ESTIMATED TAX FILING INSTRUCTIONS (BUSINESS
)
WHO MUST FILE A DECLARATION:
PAYMENT OF ESTIMATED TAX:
EVERY BUSINESS ENTITY conducting
The estimated tax or the first quarterly
activities or producing taxable income within
payment may be paid in full with the Income
or for the City of Kenton must make a
Tax Return, or must be paid quarterly on or
declaration.
before April 15, June 15, September 15 and
December 15 for calendar year businesses
HOW TO FILE DECLARATION:
or by the 15th day of the fourth, sixth, ninth
Declaration of estimated tax for the year can
and twelfth months from the beginning of the
be made on the Kenton City Income Tax
fiscal year for fiscal businesses.
return or directly to the City of Kenton,
WHAT IS TAXABLE INCOME:
Division of Taxation, 111 W. Franklin St., P
FOR
RESIDENT
BUSINESS
OR
O Box 220, Kenton OH 43326-0220. Use
PROFESSIONAL ENTITIES, whether sole-
this form to file a declaration.
proprietorships, fiduciaries, estates or trusts,
the term income shall be deemed to mean
the net profits arising from the business
activities wheresoever conducted.
2016 TAX RATE IS 1.50%
ESTIMATED TAX WORKSHEET
(KEEP FOR YOUR RECORDS - DO NOT FILE)
1.
Enter total estimated Kenton taxable income.................................................................................................................... 1. $____________
2.
Multiply Line 1 by 1.50% (.0150) and enter here............................................................................................................... 2. $____________
3.
TAX CREDITS
a.
Enter the overpayment (carry-over) from your previous year Kenton return, if any ....... a. $
b.
Enter other credits ...................................................................................................... b. $
4.
Enter your total credits. (Add lines 3 a. and 3 b.) .............................................................................................................. 4. $____________
5.
Net Estimated Tax Due (Subtract Line 4 from Line 2) ....................................................................................................... 5. $____________
6.
Enter ¼ of Line 5 here, as the quarterly estimated payment. (If this computation is for less than one year,
divide Line 5 by the number of quarters remaining in the year.) ....................................................................................... 6. $____________
PAY THE FIRST ESTIMATED PAYMENT WITH YOUR TAX RETURN.

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