Municipal Income Tax 2009 Net Profit Forms Instruction Booklet

GENERAL INSTRUCTIONS

Who Must File Form CCA 120-17BR

Every entity doing business in a CCA community as deﬁned by the Rules and Regulations must ﬁle a Net

Proﬁt Return. Individuals, including sole proprietorships, must ﬁle an Individual Tax Return.

Taxpayer Identiﬁcation Number

The federal employer identiﬁcation number must be shown on all tax returns, payments and correspon-

dence ﬁled with CCA.

Where to Get Forms

Forms are available on our website at , or may be obtained from our ofﬁce

or member communities.

When and Where to File

Tax returns must be ﬁled on or before April 15th, or the 15th day of the fourth month following the tax-

payer’s ﬁscal year-end with the Central Collection Agency. The total amount of tax due as shown on line

6, Column 7A on the front page of the Net Proﬁt Tax Return must be paid when the return is ﬁled. All

remittance must be made payable to the Central Collection Agency (“CCA”).

Estimated Tax

For calendar year taxpayers, estimate tax payments and prior year credits processed by CCA as of

November 30th, 2009, may be shown in the upper right-hand corner of the Net Proﬁt Return. The 4th

Quarter 2009 estimate tax payment is due no later than December 15th, 2009. Fiscal ﬁlers 15 days be-

fore the close of the tax year.

If you expect to owe tax for the current tax year, tax year 2010, you must ﬁle and pay Net Proﬁt Tax Es-

timates. A Net Proﬁt Tax Estimate must be completed and paid by every business entity that has taxable

income for the current tax year (to the extent the estimated tax due exceeds any available overpayment

carried forward as a credit).

Extensions

The time for ﬁling the return may be extended to the end of the month following the month to which the

return has received a valid federal extension, if a copy of the Federal extension (Form 7004) is attached

to the tax return when ﬁled. An extension only extends the time to ﬁle. Payment of the tax after the original

due date will be assessed interest charges as provided for in the Rules and Regulations. If additional tax

is due, the payment must be submitted with a copy of the Federal extension by the original due date to

avoid interest charges.

Penalties and Interest

Many CCA communities have monthly penalty and interest rates of 1.50% each, with a minimum

penalty of $25.00. Penalty and interest rates of CCA communities are available on our website at

. Failure to pay estimated tax payments totaling at least 90% of the current

year tax due or 100% of the prior year tax due no later than 15 days before the end of your tax year may

result in penalty and interest charges for underpayment of estimated tax in accordance with ORC section

718.08. See speciﬁc municipal ordinance.

Signature

Sign and date your return before submitting it to the Central Collection Agency. A return is not “ﬁled”

within the meaning of the law, until signed by the taxpayer or an agent legally authorized to sign tax return

for such taxpayer. If the return is prepared by someone other than the taxpayer, such person should also

sign the return. By checking the appropriate box you may elect to authorize your preparer to contact CCA

regarding this return (ORC 718.05).

What Constitutes Net Proﬁts

Net proﬁts are based on Adjusted Federal Taxable Income, as determined under Ohio law. Please

see Ohio Revised Code Section 718.01 (“ORC 718.01”), available via the State of Ohio website at:

ohio.gov/government.stm for more information.

Net Loss Carried Forward

Losses may be carried forward for a maximum of 5 years, or until exhausted, whichever is earlier. Losses

may not be carried back. Loss carryforwards for multiple community taxpayers must be allocated in the

same manner as taxable net proﬁts. Munroe Falls does not allow loss carry forwards. Failure to allocate

loss carryforwards and/or failure to timely ﬁle all tax returns will result in disallowance of loss

carryforwards.

Municipal Income Tax 2009 Net Profit Forms Instruction Booklet - State Of Ohio Page 2

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