General Instructions For Corporations, Partnerships, Fiduciaries, Estates And Trusts - City Of Dublin, Ohio - 2005, Afti Worksheet Adjusted Federal Taxable Income
ADVERTISEMENT
1
2
3CITY OF DUBLIN, OHIO
GENERAL INSTRUCTIONS
Additional Forms Available at
Division of Taxation
FOR CORPORATIONS, PARTNERSHIPS,
P.O. Box 9062
FIDUCIARIES, ESTATES AND TRUSTS
Dublin, Ohio 43017-0962
Telephone (614) 410-4460
2005
Toll Free (888) 490-8154
Fax (614) 923-5520
1.
WHEN AND WHERE TO FILE RETURNS: TAXPAYERS WHO END THEIR TAX YEAR ON DECEMBER 31 MUST FILE ON OR BEFORE APRIL 15 OF THE FOLLOWING
YEAR. TAXPAYERS ON A FISCAL OR PARTIAL YEAR BASIS MUST FILE WITHIN 105 DAYS FOLLOWING THE END OF SUCH PERIOD.
IF THE FILING DEADLINE CANNOT BE MET, A COPY OF THE FEDERAL REQUEST FOR EXTENSION MUST BE FILED BY THE DUE DATE OF THE RETURN.
AN EXTENSION REQUEST IS AN EXTENSION OF TIME TO FILE, IT IS NOT AN EXTENSION OF TIME TO PAY. PAYMENT OF ANY ESTIMATED TAX DUE SHOULD
ACCOMPANY THE EXTENSION REQUEST. IF NO REQUEST FOR EXTENSION IS FILED, A LATE PENALTY UP TO ONE HUNDRED DOLLARS ($100.00) CAN BE
ASSESSED. ALSO SEE ESTIMATED TAX PAYMENTS BELOW.
2.
TAXABLE INCOME: DUBLIN INCOME TAX IS LEVIED AT THE RATE OF 2.0% (.02) ON THE FOLLOWING:
A.
NET PROFITS EARNED OF ALL CORPORATIONS DERIVED FROM WORK DONE OR SERVICES PERFORMED OR RENDERED AND OTHER BUSINESS ACTIVITIES
CONDUCTED IN THE CITY OF DUBLIN. S-CORPORATION INCOME IS NOT TAXABLE AT THE INDIVIDUAL LEVEL. S-CORPORATIONS DOING BUSINESS WITHIN
DUBLIN MUST FILE THIS FORM.
B.
NET PROFITS ATTRIBUTABLE TO DUBLIN EARNINGS OF NON-RESIDENT UNINCORPORATED BUSINESSES, PROFESSIONS, OR OTHER ACTIVITIES, DERIVED
FROM WORK DONE OR SERVICES PERFORMED OR RENDERED AND BUSINESS OR OTHER ACTIVITIES CONDUCTED IN THE CITY OF DUBLIN. PARTNERSHIPS,
SEE LINE 12 BELOW. SOLE PROPRIETORSHIPS, FILE AN INDIVIDUAL RETURN RATHER THAN THIS FORM.
C.
THE FOLLOWING SHOULD BE REPORTED ON THE DUBLIN INDIVIDUAL INCOME TAX RETURN:
1.)
NET PROFITS ATTRIBUTABLE TO EARNED DUBLIN INCOME OF ALL RESIDENT UNINCORPORATED BUSINESS PROFESSIONS AND OTHER ACTIVITIES
DERIVED FROM WORK DONE OR SERVICES PERFORMED AND BUSINESS OR OTHER ACTIVITIES IN THE CITY OF DUBLIN.
2.)
THAT PORTION OF THE DISTRIBUTIVE SHARE OF THE NET PROFIT EARNED OF A RESIDENT INDIVIDUAL, PARTNER, OR OWNER OF A RESIDENT
UNINCORPORATED BUSINESS ENTITY ATTRIBUTABLE TO DUBLIN AND NOT LEVIED AGAINST SUCH UNINCORPORATED BUSINESS ENTITY.
3.)
THAT PORTION OF THE DISTRIBUTIVE SHARE OF THE NET PROFITS EARNED OF A RESIDENT INDIVIDUAL, PARTNER, OR OWNER OF A NON-RESIDENT
UNINCORPORATED BUSINESS ENTITY NOT ATTRIBUTABLE TO DUBLIN AND NOT LEVIED AGAINST SUCH INCORPORATED BUSINESS ENTITY.
3.
NET PROFIT: NET PROFIT IS THE INCOME FROM THE OPERATION OF A BUSINESS, PROFESSION OR ENTERPRISE AND FROM THE USE OF PROPERTY, AFTER
THE PROVISION FOR ALL ORDINARY AND NECESSARY EXPENSES, EITHER PAID OR ACCRUED, IN ACCORDANCE WITH THE ACCOUNTING SYSTEM USED BY THE
TAXPAYER FOR FEDERAL INCOME TAX PURPOSES, ADJUSTED TO THE REQUIREMENTS OF THE DUBLIN INCOME TAX ORDINANCE. NOTE THAT CITY, FEDERAL OR
STATE TAXES BASED ON INCOME ARE NOT DEDUCTIBLE IN DETERMINING NET PROFIT.
4.
ALLOCATION OF PROFITS: THE BUSINESS ALLOCATION PERCENTAGE FORMULA IS TO BE USED BY CORPORATIONS OR NON-RESIDENT BUSINESS ENTITIES
DOING BUSINESS WITHIN AND OUTSIDE OF DUBLIN.
DETERMINE THE RATIO OF THE DUBLIN PORTION OF:
A.
AVERAGE VALUE OF REAL AND TANGIBLE PROPERTY INCLUDING: BUILDINGS AND OTHER DEPRECIABLE ASSETS LESS ACCUMULATED
DEPRECIATION, DEPLETABLE ASSETS LESS ACCUMULATED DEPLETION, INTANGIBLE ASSETS LESS ACCUMULATED AMORTIZATION AND LAND.
B.
TOTAL SALES, REGARDLESS OF WHERE MADE.
C.
TOTAL COMPENSATION PAID TO ALL EMPLOYEES.
ADD RATIOS AND DIVIDE BY THE NUMBER OF RATIOS TO OBTAIN BUSINESS ALLOCATION PERCENTAGE. A RATIO SHALL NOT BE EXCLUDED FROM THE
COMPUTATION BECAUSE IT IS ALLOCABLE ENTIRELY WITHIN OR OUTSIDE DUBLIN. THIS COMPUTATION IS TO BE REPORTED IN SCHEDULE Y.
5.
OPERATING LOSSES: ALTHOUGH FEDERAL LAWS PERMIT THE TAXPAYER TO CARRY FORWARD AND CARRY BACK CERTAIN OPERATING LOSSES, SUCH LOSSES
MAY NOT BE CARRIED FORWARD OR BACKWARD UNDER THE PROVISIONS OF THE CITY INCOME TAX ORDINANCE.
6.
UNINCORPORATED BUSINESS ACTIVITY: THE NET LOSS OF AN UNINCORPORATED BUSINESS ACTIVITY MAY BE USED TO OFFSET OTHER UNINCORPORATED
BUSINESS INCOME IN DUBLIN ONLY IF IT MEETS ONE OF THE TWO FOLLOWING CONDITIONS: 1) THE UNINCORPORATED BUSINESS ACTIVITY MUST BE LOCATED
IN DUBLIN OR 2) THE UNINCORPORATED BUSINESS ACTIVITY MUST BE LOCATED IN A MUNICIPALITY THAT DOES NOT HAVE A LOCAL INCOME TAX.
7.
PAYMENTS: PAYMENTS OF LESS THAN ONE DOLLAR AND ONE CENT ($1.01) OF NET TAX DUE ARE NOT REQUIRED, NOR WILL REFUNDS OF LIKE AMOUNT BE MADE.
8.
ESTIMATED TAX PAYMENTS: ANY ENTITY ANTICIPATING DUBLIN TAX LIABILITY OF $100.00 OR GREATER SHALL FILE AND PAY ESTIMATED TAX PAYMENTS.
FOR CALENDAR YEAR TAXPAYERS SUCH PAYMENTS ARE DUE EITHER IN FULL BY APRIL 15TH OR ONE-QUARTER DUE ON EACH OF APRIL 15TH, JULY 31ST,
OCTOBER 31ST, AND JANUARY 31ST OF THE FOLLOWING YEAR. FOR FISCAL YEAR TAXPAYERS, THE DECLARATION AND FIRST PAYMENT ARE DUE NO LATER
THAN 105 DAYS AFTER THE CLOSE OF THE FISCAL YEAR WITH THE SECOND QUARTERLY PAYMENT DUE 60 DAYS LATER, THE THIRD QUARTERLY PAYMENT DUE
90 DAYS AFTER THE SECOND PAYMENT, AND THE FOURTH QUARTERLY PAYMENT DUE 105 DAYS AFTER THE THIRD PAYMENT. THE DECLARATION OF ESTIMATED
TAX AND FIRST PAYMENT ARE TO BE MADE WITH THIS TAX FORM. A DECLARATION AND PAYMENTS WHICH ARE LESS THAN 90% OF THE TAX SHOWN ON THE
FINAL RETURN SHALL NOT BE CONSIDERED IN GOOD FAITH AND SHALL BE SUBJECT TO PENALTY AND INTEREST CHARGES.
9.
PENALTIES AND INTEREST: PENALTY AND INTEREST FOR LATE PAYMENT OF TAX OR UNDERPAYMENT OF ESTIMATED TAX SHALL BE IMPOSED AT THE RATE OF
10% PENALTY AND 18% INTEREST (1.5% PER MONTH OR FRACTION THEREOF) AS PROVIDED FOR BY THE TAX ORDINANCE. FAILURE TO TIMELY FILE A TAX
RETURN WILL RESULT IN A PENALTY UP TO A MAXIMUM OF ONE HUNDRED DOLLARS ($100.00).
10.
AFFILIATED LOSSES: AFFILIATED CORPORATIONS MAY NOT DEDUCT A LOSS FROM ANY OTHER CORPORATION HAVING A TAXABLE PROFIT AND OPERATIONS
OF ANY AFFILIATED CORPORATION HAVING A LOSS MAY NOT BE TAKEN INTO CONSIDERATION IN COMPUTING NET PROFITS OR BUSINESS ALLOCATION
PERCENTAGE FORMULA.
11.
AMENDED RETURNS: TO FILE AN AMENDED RETURN, COMPLETE A NEW TAX FORM WITH THE CORRECT INFORMATION. INDICATE IN RED INK ACROSS THE TOP
OF THE FORM “AMENDED RETURN.”
12.
PARTNERSHIPS: PARTNERSHIPS MAY PAY ANY TAX DUE AND ELIMINATE THE FILING REQUIREMENT FOR EACH NON-RESIDENT PARTNER. IF THE PARTNERSHIP
FILES AN INFORMATION RETURN ONLY, THE PARTNERS WILL BE REQUIRED TO FILE ON THEIR DISTRIBUTIVE SHARE.
13.
DISCLAIMER: DEFINITIONS AND INSTRUCTIONS ARE ILLUSTRATIVE ONLY. THE TAX ORDINANCE SUPERSEDES ANY INTERPRETATION PRESENTED.
ADVERTISEMENT
0 votes
Related Articles
Related forms
General Instructions For Corporations, Partnerships, Fiduciaries, Estates And Trusts - City Of Dublin, Ohio - 2007, Afti Worksheet Adjusted Federal Taxable Income
Financial
General Instructions For Corporations, Partnerships, Fiduciaries, Estates And Trusts - City Of Dublin, Ohio - 2012, Afti Worksheet Adjusted Federal Taxable Income
Financial
General Instructions For Corporations, Partnerships, Fiduciaries, Estates And Trusts - City Of Dublin, Ohio - 2010, Afti Worksheet Adjusted Federal Taxable Income
Financial
General Instructions For Corporations, Partnerships, Fiduciaries, Estates And Trusts - City Of Dublin, Ohio - 2008, Afti Worksheet Adjusted Federal Taxable Income
Financial
General Instructions For Corporations, Partnerships, Fiduciaries, Estates And Trusts - City Of Dublin, Ohio - 2009, Afti Worksheet Adjusted Federal Taxable Income
Financial
General Instructions For Corporations, Partnerships, Fiduciaries, Estates And Trusts - City Of Dublin, Ohio - 2004, Afti Worksheet Adjusted Federal Taxable Income
Financial
Instructions For Corporations, Partnerships, Fiduciaries, Estates And Trusts - City Of Dublin For 2015
Financial
Related Categories
Parent category: Financial