Declaration Of Estimated Tax For Year 2010 - Village Of Elmore (Page 3 of 3) in pdf

Village of Elmore

Department of Taxation

P.O. BOX 94

Elmore, OH. 43416

VILLAGE OF ELMORE- INSTRUCTIONS FOR COMPLETING ANNUAL RETURNS - YEAR 2009

GENERAL INSTRUCTIONS:

1) Joint returns may be filed by married persons only.

2) All residents or persons domiciled in the Village are required to file an annual return regardless of whether

any tax is due.

3) Domiciled is defined as the legal residence of the taxpayer. Taxpayers may only have one legal residence at a time. Persons

temporarily out of the community do not lose their residence status if they plan to return, if they file tax returns, vote or use

the address to receive their mail.

4) Retired persons receiving only pensions, interest income or other types of exempted income need only check off that they are

retired and return the signed form to the Administrator by April 15

of each year to maintain their exempt status.

5) All earned income must be reported such as wages, salaries, compensation for services, lotteries or gambling, income from

businesses or professions, rental income or farm income must be reported. Use Medicare Wages (Box 5) as your gross income.

The tax is on the gross income before any deductions for taxes, deferred income, or contributions to a 401k plan.

6) Notify the tax office immediately of changes of address, as failure to receive a form is no excuse for not filing a return as

required.

7) Payment of any tax due along with the first quarter of the current year estimate must be made when filing the return. Checks

must be made payable to the Village of Elmore.

8) Penalties and Interest will be assessed if the return is filed after the due date or if less than the required estimate payments

are not paid by January 30

of the year following the end of the tax year

SPECIFIC INSTRUCTIONS

Line 1. List each W-2. Attach copy of W-2’s and a copy of each 1099 used to calculate taxable income. Attach a list if more than

space available is needed. Use Gross income as defined above.

Line 2. List other taxable income from page 2, if any.

Line 3. Total lines 1 and 2 (Enter Total Here)

Line 4. A. Enter income from Business or Profession, (Attach profit or loss statement or complete Schedule on page 2 with

attachments)

B. Enter income from Partnership and attach complete copy of Federal Form 1065 if business is located in the Village

of Elmore or a copy of Schedule K for residents share of income for income earned outside of Elmore. Partnerships

within Elmore must file as entity.

Line 5. Total taxable income.

Line 6. Multiply line 5 by tax rate (.0175) Enter Tax Due.

Line 7. Credits: A. Enter Tax Withheld for Elmore only.

B. Enter Estimated Tax Paid to Elmore.

C. No Credit allowed for taxes paid to another communit

D. Enter overpayment credit from prior year.

E. Total Lines A, B, D, and E.

Line 8. Deduct Line 7E from Line 6 and enter tax due.

Line 9. Calculate Penalty and Interest Due. 1.5% penalty and 1.5% interest or 3% total per month late. Minimum penalty of

$25.00 if filed late.

Line 10. Add tax Penalties and Interest Due and enter Balance Due

COMPLETE THE ESTIMATE FOR 2010 AND ADD THE FIRST QUARTER PAYMENT TO THE BALANCE DUE

FOR 2009 SHOWN ON LINE 10 ABOVE. REMIT TOTAL BALANCE DUE WITH RETURN BY APRIL 15, 2010.

Declaration Of Estimated Tax For Year 2010 - Village Of Elmore Page 3

Related Articles

Related forms

Related Categories