Instructions For Preparing Municipal Income Tax Returns

2016 INSTRUCTIONS

LINE 15 TOTAL DUE TO THE CITY OF PARMA

Returns received without payment will be subject to a $25.00 penalty.

Refer to Line 11 Balance Due for additionally penalty & interest

charges. Be sure to write your Parma account number on your check or

money order. If the balance of tax due is less than $10.00 no payment

is required.

$10.00 payment

(2016

TAXPAYER MUST ATTACH COPIES OF YOUR FEDERAL 1040

INCOME TAX FILINGS. W-2 STATEMENTS, COPIES OF ALL APPLICA-

BLE CITY RETURNS AND FEDERAL SCHEDULES - C, E, K-1 &

1099, ETC. INCLUDE A SUMMARY SHEET IF NECESSARY. THIS

RETURN WILL BE IN NON-COMPLIANT UNLESS THESE

DOCUMENTS ARE PROVIDED.

LINE 10 TAX DUE - If the result on Line 10 is less than $10.00 see the

EXAMPLE OF TAX RETURN

instructions on Line 13

LINE 11 PENALTY & INTEREST

A. Penalty and interest are imposed for failure to file a tax

2011

return by April15 or the 15th day of the fourth month from

the end of the fiscal period for: “businesses only” and no tax

2010

extension was granted. Penalty & Interest charges are

imposed for failure to pay 90% or more of the tax due in the

current tax year. Penalty charges of $25.00 a month are

2011

imposed on returns not timely filed and shall not exceed

2011

$150.00 for each return not timely filed in the current tax year.

2010

Penalty charges on unpaid income tax and unpaid

2010

estimated income tax, a municipal corporation can imposed

a penalty equal to 15% of the amount of tax not timely paid.

Interest charges are .42% a month plus 5% for a calendar

tax year.

This is a one Time Fee per each calendar year! Note:

Interest applies to any unpaid balance of tax due if not paid

by the due date of a tax return even if the return is filed

under a Federal Income Tax Extension.

THIS IS A ONE TIME ASSESSMENT PER EACH CALENDAR YEAR

NOTE: Interest applies to any unpaid balance of tax due if not paid

by the due date of a tax return even if the return is filed under a

Federal Income Tax Extension.

LINE 12 BALANCE DUE

Add lines 10 and 11C.

LINE 13 OVERPAYMENT - If line 10 or 12 is showing a credit over

$10.00 you are entitled to refund or tax credit to be applied to your first

quarter estimate income tax. Remember to offset your first quarter

estimated tax payment by the amount of the overpaid credits. If you

request a refund, refunds take 12 weeks to process and mail. Please

indicate your choice by placing an X in the box on Line 13A if you

choose a refund or 13B to receive a tax credit.

LINE 14 NOTE: Taxpayer’s who anticipate a net tax due to Parma

Division of Taxation in excess of $200 in the current tax year is

required to file a Declaration of estimated income tax due by

completing Line 14. Effective 1/01/2016 estimated income taxes

2011

will have a new filing deadlines; 1st quarter 4/15, 2nd quarter 6/15,

3rd quarter 9/15, 4th quarter 12/15.

2011

See Page 3 for E-File Instructions.

PAGE 2

Instructions For Preparing Municipal Income Tax Returns - 2016 Page 2

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