Form Cf-1040 - Individual Common Form - 2016 (Page 2 of 2) in pdf

2016 CF-1040 INDIVIDUAL COMMON FORM (FINAL VERSION 08/11/2016)

INTEREST AND PENALTY

If the total amount of tax withheld, tax credits and estimated tax paid is less than seventy percent (70%) of the tax due for

the current or previous year, interest and penalty will be charged. Payment of estimated tax does not excuse the taxpayer

from filing an annual income tax return even though the total tax liability has been paid.

INCOME SUBJECT TO CITY INCOME TAX

A. Residents: All salaries, wages, bonuses, commissions and other compensation; net profits from business or

profession; net rental income; capital gains less capital losses; interest and dividends; income from estates and trusts;

and other income.

B. Nonresidents: Salaries, wages, bonuses, commissions and other compensation for services rendered or work

performed in the city; net rental income from property located in the city; net profits from a business, profession or

other activity to the extent that it is from work done, services rendered or activity conducted in the city; capital gains

less capital losses from the sale of real or tangible personal property located in the city.

WITHHOLDING TAX AND OTHER TAX CREDITS

A. Withholding Tax: You may subtract from your estimated income tax the amount of income tax expected to be

withheld for the city.

B. Income Tax Paid by Partnership: If you are a member of a partnership which elects to and pay the tax on behalf of

its partners, you may subtract from your estimate of city income tax, the amount of tax expected to be paid by the

partnership on your distributive share of net profits.

C. Income Tax Paid to Another Municipality: Residents who pay income tax to another municipality on income taxable

in the resident city may subtract from their estimate of income tax the amount of income tax expected to be paid to the

other municipality. The credit is limited to the amount of tax assessable under the resident city’s Income Tax

Ordinance on the same income of a nonresident.

PAYMENT RECORD FOR TAX YEAR __________

(Keep this for your records.)

PAYMENT

DATE PAID

CHECK NUMBER

ESTIMATED TAX PAID

FIRST QUARTER

PAYMENT

SECOND QUARTER

PAYMENT

THIRD QUARTER

PAYMENT

FOURTH QUARTER

PAYMENT

TOTAL ESTIMATED TAX PAYMENTS

Make remittances payable to:

City of {city name}.

Revised 08/09/2012

Mail estimated tax forms and payments to:

{List address where payment is to be sent.}

Printed 08/11/16

Page 73 of 91

Form Cf-1040 - Individual Common Form - 2016 Page 2

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