Instructions For Walbridge Income Tax Returns 2003 Return
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2INSTRUCTIONS FOR WALBRIDGE INCOME TAX RETURNS
2003 RETURN DUE APRIL 15, 2004
419-666-1830
Authorization is required for the Income Tax Department to release information involving your tax account to
your tax preparer. Please check the box above your signature on page 1.
GENERAL INSTRUCTIONS
1. Village of Walbridge Income Tax Rate is 1.5%.
C) The net profits of all corporations derived from work done or
services performed or rendered and business or other
2. WHO IS REQUIRED TO FILE A RETURN?
activities conducted in Walbridge whether or not an office or
A) All residents having taxable income regardless of where it is
place of business is maintained in Walbridge.
earned or age.
D) Loss on the sale exchange or other disposition of depreciable
B) All resident businesses, whether or not you have taxable
property and real estate used in taxpayer’s business shall not
income.
be allowed as a deductible expense.
C) Any non-resident with income earned within the village of
E) Any charitable, educational, fraternal or other type of non-
which Walbridge village tax was not withheld.
profit association or organization enumerated in Section 718
D) Any non-resident business conducting business within the
of the Revised Code of Ohio which is not exempt from the
village.
payment of real estate taxes is required to file returns and
remit the taxes levied under the Ordinance on all business
If you have received this form and do not meet any of the
activities of a type ordinarily conducted for profit.
filing requirements, please file the form indicating why you
are no longer subject to the tax.
Net profits of a business shall be the same as reported for federal
income tax purposes but adjusted to the requirements of the
3. WHEN AND WHERE TO FILE RETURN:
Ordinance, regulations, and the rulings of the Commissioner.
This return is to be filed on or before April 15, 2004, or if you
report to the Federal Government on a fiscal basis, 3
1
/
months
5. DEDUCTIONS:
2
after the end of your fiscal year.
Employee business expenses (federal form 2106) are
deductible to the extent deductible on your federal tax return.
The return is to be filed with the Tax Commissioner, Village of
They must be allocated to the municipalities where income
Walbridge, Department of Taxation, P.O. Box 2054, Toledo, OH
was earned. After such allocation you can only deduct them
43603-2054.
if you have itemized deductions on your federal tax return
Extensions of time granted for filing your federal return will be
and you must attach a copy of your federal form 2106 and
honored by the village provided a copy of the federal extension
Schedule ‘A.’
is provided to the village prior to April 15th. This is not an
extension for payment of the tax. All taxes unpaid as of the
6. LOSSES:
original due date of the return are subject to penalty and interest
Losses from business activities may not to be deducted from
as explained below.
wages or other earned income to arrive at Walbridge taxable
income. Business losses may be carried forward up to 5 years
4. WHAT IS TAXABLE INCOME?
but never carried back.
A) All salaries, wages, commissions, fringe benefits, tips and
other personal service compensation including sick pay and
7. PENALTY, INTEREST, LATE FILING FEE:
contributions to section 401-K, 125, 129 deferred
Penalty at the rate of 1% per month and interest at the rate of
compensation plans, lottery winnings and games of chance.
1% per month will be charged on all unpaid tax as of the
(Do not include interest, dividends, qualified pensions, active
original due date of the tax.
duty military pay, and unemployment compensation as
An extension of time for filing your return is not an extension
taxable income.)
to pay the tax. If the tax and interest is not paid in full when
The following instructions are applicable only to taxpayers
the return is filed, penalty and interest is charged from the
having taxable income other than that listed in paragraph
original due date of the return.
(A) above:
A late fee of twenty-five dollars will be charged in all cases
B) The net profits of all unincorporated businesses,
where a return is received by our office dated with a
partnerships, professions or other activities conducted by
postmark after the due date or extended due date of the
residents of Walbridge or conducted by non-residents in
return.
Walbridge.
Additional penalty and interest will be charged for
underpaying estimated tax. See below.
*ESTIMATED TAX REQUIREMENTS:*
Any individual having or anticipating a tax liability to the Village of Walbridge in an amount greater than $100.00 is required to file a
declaration of tax payable in four quarterly installments. Should you be required to pay estimated tax, see the “ESTIMATED TAX
INSTRUCTIONS” section of this package.
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