Form Fq-1 - Estimated Tax Worksheet - The City Of Fairborn - 2006

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Instructions to Prepare Estimated Tax Worksheet (FQ-1)
For assistance, please contact the City of Fairborn Income Tax office at (937) 754-3006.
Line 1: Enter the total estimated income for the tax year. Include all compensation subject to
Fairborn tax.
Line 2: Calculate the estimated tax at 1.5% of Line 1.
Line 3: Deduct the amount of tax, if any, which has been or will be withheld for Fairborn and/or
credit for city income tax to be paid to another city.
Line 4: This is the amount of estimated tax declared for the taxable year.
Line 5a: List any overpayment of previous year’s city tax liability which you requested be applied
to your next year’s tax or, if this is an amended estimate, list the amount previously paid toward
this tax year.
Line 5b: List any other credit not claimed on Line 5a. Specify the source of the credit.
Line 5c: This is the total of lines 5a and 5b.
Line 6: Subtract line 5c from line 4. This is your net estimated tax due. This amount can be paid
in full or in quarterly installments.
Line 7: Divide the amount on line 6 by four to compute your quarterly payments. The quarterly
installment vouchers are included in the tax package.
Who Must File an Installment Voucher
Every resident of the city of Fairborn, Ohio, who expects to receive taxable income, wherever
earned, from which the full city income tax is not withheld on the entire wage.
Every non-resident of Fairborn, who expects to receive taxable income, earned or derived from
within the city, from which the Fairborn income tax will not be withheld.
Every business entity, such as corporations, partnerships, fiduciary or active trust,
unincorporated business or professional entities conducting activities or producing income within
the city.
How to File Installment Vouchers
Prepare the Estimate Worksheet to compute your net tax due. Keep the worksheet for your
records. All installment vouchers are included in the tax package. No installment vouchers
(or payment reminders) will be mailed.
Payment of Estimated Tax
Returns covering estimated tax must be filed to equal not less than 90% of the actual tax for the
taxable period. The estimated tax may be paid in full at any time or in equal quarterly payments.
Individuals: For calendar year taxpayers, the installment due dates are 4/15, 7/31, 10/31 and
1/31.

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