Form N-2 - Declaration Of Estimated Municipal Income Tax On Net Profits
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1FORM N-2
CITY OF CLEVELAND HEIGHTS
P O BOX 94865
CLEVELAND HEIGHTS OH 44101-4865
Declaration of Estimated Municipal Income Tax on Net Profits
Federal Employer
Tax Period
Check Here
Return:______
Identification Number:______________________________ Ending Date:____________________
If Initial
______________________________________
Make Checks Payable To: City of Cleveland Heights
I have examined this return and to the best of my knowledge
COMPANY NAME
______________________________________
it is correct.
PRESENT ADDRESS(Number, Street or P .O. Box)
_______________________________________
________________________________________________
CITY
STATE
ZIP
SIGNATURE
TITLE
DATE
COMPUTATION OF ESTIMATED TAX
1.
Estimated Taxable Net Profits for Tax Period.
1.___________________
2.
Line 1 multiplied by .02 (This is the Estimated Tax).
2.___________________
3.
Line 2 multiplied by .25 (first Quarter Amount Due).
3.___________________
4.
Credit (if any) from Previous Year.
4.___________________
5.
If Line 4 is LESS than Line 3, enter difference and remit this amount with Return.
5.___________________
If Line 4 is GREATER than Line 3, enter zero.
INSTRUCTIONS FOR COMPLETING DECLARATION OF ESTIMATED INCOME TAX ON NET PROFITS
It is required by municipal ordinance, a Declaration of Estimated
(B) Allocation of Profits: If actual records of the business in
Income Tax on Net Profits, must be filed by the following:
Cleveland Heights are not maintained, the business allocation
percentage formula is to be used by corporations, partnerships,
(A) All corporations whose income is derived from sales made,
limited partnerships, estates or trusts doing business within and
work done, services performed or rendered and business or other
outside the boundaries of Cleveland Heights. Determine the ratio
activities conducted in Cleveland Heights, whether or not such
of Cleveland Heights’ portion by using the following three step
corporations have an office or place of business in Cleveland
formula:
Heights, whether or not such income results in a net profit or net
loss.
1. Average net book value of real and tangible property owned,
rented or leased by the taxpayer for use in the trade of business.
(B) All resident or non-resident partnerships, limited partnership,
To determine the value of property rented and used in the
estates, or trusts which expect a profit or loss derived from sales
business, multiply the gross annual rental by 8.
made, work done, services performed or rendered and business or
2. Total payroll
other activities conducted in Cleveland Heights.
3. Gross receipts from sales made and services performed,
regardless where made or performed.
Fiscal Taxpayers: For business whose fiscal year starts on
January 1, the estimate is due on or before April 15, for
Add the ratios obtained and divide by the number of ratios used to
businesses whose fiscal year starts after January 1, the estimate
obtain the business allocation percentage. A ratio shall not be
is due on the 15th day of fourth month following the end of the
excluded from the computation because it is allocable entirely
fiscal year.
within or outside of Cleveland Heights. The business allocation
percentages are to be applied against the total net profits adjusted
DEFINITIONS:
in accordance with the provisions of the Cleveland heights Income
(A) Net Profits: Net Profits means a net gain from the operation of
Tax Ordinances to determine the portion taxable by Cleveland
a business, profession, enterprise,or other activity after provision
Heights.
for all ordinary and necessary expenses either paid or accrued in
accordance with the accounting system used by the taxpayer for
For your convenience, you may pay the full amount of total
Federal Income Tax purposes, without deduction of municipal,
estimated tax due with this declaration. Otherwise, 1/4 of the
federal, state and other taxes based on income; and in the case of
estimated tax due must be remitted with this declaration and the
an association, without deduction of salaries paid to partners and
remaining amount will be billed to you in three equal installments.
other owners.
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