Guidelines For Individual Taxpayers For Spencerville Income Tax Return (Page 2 of 3) in pdf

Tax

GUIDELINES FOR BUSINESS TAXPAYERS FOR

Box 57

TAX

Spencerville, Ohio 45887

TAX RATE AND DUE DATE. The tax rate is 1

The Spencerville Income Tax is due April 30 when operating on a

calendar

year.

If operating an a fiscal year the return shall be due within four (4) months after the fiscal year end.

EXTENSION

TIME TO FILE.

The Administrator may

the time for filing of the annual return upon the request

of the taxpayer for a period of nut to exceed six (6) months,

one (1) month beyond any extension requested of or

granted by the Internal Revenue Service for the filing of the Federal Income Tax Return. The Administrator may require a

tentative return, accompanied by payment of the amount of tax shown to be due thereon by the date the return is

normally due. No penalty shall be assessed in those cases in which the return is filed and the final tax paid within the

period as extended.

The Administrator must be contacted in

or by a copy of the Federal Tax Return Extension if an extension of time .

requested. This notice must be received by the due date of the tax return, whether it be April’30 or four (4) months

after the fiscal year end.

SPENCERVILLE TAX WILL BE LEVIED UPON THE FOLLOWING: On the portion attributable to this municipality of

the net profits earned during the calendar

the fiscal tax year

all resident unincorporated businesses, professions or

other entities, derived from sales made, work done,

performed or rendered and business or other

conducted in this municipality.

On the portion of the distributive share of the net profits earned during the calendar or fiscal tax year of a resident

partner or owner of a resident unincorporated business entity not attributable to this municipality and not levied against

such unincorporated business entity by this municipality.

the portion attributable to this municipality of the net profits earned during the

fiscal tax

of all non-

resident unincorporated businesses,

entities, derived from sales made,

done, or services

performed or rendered and business

other activities conducted in this municipality, whether or not such

unincorporated business entity has an office or place of business in this municipality.

On the portion of the distributive share of the net profits earned during the calendar or fiscal tax year of a resident

partner

owner of a non-resident unincorporated business entity not attributable to this municipality and not levied

against such unincorporated business entity by this municipality.

On the portion attributable to this municipality, of the net profits earned during the calendar or fiscal tax year of all

corporations derived from sales made, work done, services performed or rendered and business or other activities

conducted in this municipality, whether or not such corporations have an office or place of business in this municipality.

OPERATING LOSS

1. The portion of a net operating loss sustained in

taxable year

subsequent to January 1,

allocable to this municipality may be applied against the portion of the profit of

succeeding year(s) allocable to this municipality, until exhausted but in no event for more than five (5) taxable years. No

portion of a net operating loss shall be carried back against net profits of any prior year.

2. The portion of a net operating loss sustained shall be allocated to this municipality in the

manner as provided

herein for allocating net profits to this

CONSOLIDATED RETURNS. In the case of a corporation that carries on transactions with its stockholders or with

other corporations related by stock ownership, interlocking directorates, or some other method, or in case any person

operates a division, branch, factory, office, laboratory or activity within this municipality constituting a portion only of its

total business, the Administrator shall require such additional information as he may deem necessary to ascertain

whether net profits are properly allocated to this municipality.

If the’ Administrator finds net’

are not properly

allocated to this municipality by reason of transactions with stockholders or with other corporations

by stock

ownership, interlocking directorates, or transactions with such division, branch, factory, office, laboratory or activity

some other method, he shall make such allocation as he deems appropriate to produce a fair and proper allocation of

net profits to this municipality.

AMENDED RETURNS: Where necessary an amended return must

in order to

additional income and’

pay any additional tax due, or claim a refund of tax’overpaid.

amended returns

be on a

request from the Administrator. A taxpayer may not

the

of accounting or apportionment of net

after the due date for filing the original return.

Within three (3) months from the final determination

federal tax liability affecting the taxpayer’s

liability to this

municipality, such taxpayer shall make and file amended return showing income subject

the income tax of this

municipality based on such final determination of federal tax liability, and pay any additional tax shown due thereon or

make claim for refund’of any overpayment.

Guidelines For Individual Taxpayers For Spencerville Income Tax Return Page 2

Related Articles

Related forms

Related Categories