Estimated Tax Worksheet
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1
2ESTIMATED TAX FILING INSTRUCTIONS
WHO MUST MAKE A DECLARATION:
(1) EVERY RESIDENT of the City of Kenton, Ohio who expects to
WHAT IS TAXABLE INCOME:
receive taxable income, wherever earned, from which the Kenton
(1) FOR RESIDENT INDIVIDUALS the qualifying wages, commissions
income tax will not be completely withheld.
and other compensation whether paid in cash, property or other
(2) EVERY NON-RESIDENT of Kenton, who expects to receive
consideration, wherever earned; the distributive share of net
taxable income, earned or derived within or from the City, from
income from partnerships or associations wherever conducted; net
which the Kenton income tax will not be completely withheld.
income from rental property wherever situated; and any other
(3) EVERY BUSINESS ENTITY conducting activities or producing
income not expressly excluded by the Kenton Income Tax
taxable income within or for the City of Kenton.
Ordinance
HOW TO FILE DECLARATION:
(2) FOR RESIDENT BUSINESS OR PROFESSIONAL ENTITIES,
whether sole-proprietorships, fiduciaries, estates or trusts, the term
Declaration of estimated tax for the year can be made on the Kenton
income shall be deemed to mean the net profits arising from the
City Income Tax return or directly to the City of Kenton, Division of
business activities wheresoever conducted.
Taxation, 111 W. Franklin St., P O Box 220, Kenton, OH 43326-0220.
(3) FOR NON-RESIDENT INDIVIDUALS the qualifying wages,
PAYMENT OF ESTIMATED TAX:
commissions and other compensation as enumerated in (1) to the
The estimated tax or the first quarterly payment may be paid in full with
left, but only to the extent earned within or derived from the City of
your Income Tax Return, or must be paid quarterly on or before April
Kenton.
15, June 15, September 15 and December 15.
2016 TAX RATE IS 1.50%
NO CREDIT FOR TAX PAID TO OTHER CITIES
ESTIMATE FORMULA: Gross taxable income x 1.50% x 90% equals amount to be paid by December
15 of the following tax year.
EXAMPLE: Kenton resident’s taxable wages are estimated to be $25,000. Employee works in another city
with a local income tax rate of .5%. Since no credit is allowed for taxes paid to other cities, to calculate
Kenton estimated tax liability: $25,000.00 X .0150 = $375.00.
Please call the Tax Office at 419-673-1355 for further assistance in calculating estimated
payments.
ESTIMATED TAX WORKSHEET
(KEEP FOR YOUR RECORDS - DO NOT FILE)
1.
Enter your total estimated Kenton taxable income ........................................................................................................... 1. $____________
2.
Multiply Line 1 by 1.50% (.0150) and enter here .............................................................................................................. 2. $____________
3.
TAX CREDITS
a.
Enter the tax your employer will withhold and send directly to Kenton ......................... a. $
b.
Enter the overpayment (carry-over) from your previous year Kenton return, if any ....... c. $
c.
Enter other credits ...................................................................................................... d. $
4.
Enter your total credits. (Add lines 3 a. thru 3 c.) ............................................................................................................. 4. $____________
5.
Net Estimated Tax Due (Subtract Line 4 from Line 2) ...................................................................................................... 5. $____________
6.
Enter ¼ of Line 5 here, as your quarterly estimated payment. (If this computation is for less than one year,
divide Line 5 by the number of quarters remaining in the year.)....................................................................................... 6. $____________
PAY THE FIRST ESTIMATED PAYMENT WITH YOUR TAX RETURN.
ENTER THE AMOUNT ON LINE 6 ON EACH OF THE VOUCHERS ON THE REVERSE.
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