Business FAQs - Net Profit Estimates - Estimated Tax Payment Requirements
As with the Federal Income Tax, a Municipality may require taxpayers to make estimated payments during each tax year. Beginning with tax year 2016, Ohio law requires you to make estimated municipal income tax payments if you will owe $200.00 or more to an Ohio municipality. To determine whether your municipality required estimated tax payments for tax years prior to 2016, please visit the RITA Municipalities page, click on your municipality and review the Special Notes section for those tax years.
Estimated payments are due quarterly as follows:
1st Quarter - On or before the fifteenth day of the fourth month after the beginning of each fiscal year.
2nd Quarter - On or before the fifteenth day of the sixth month after the beginning of the taxable year.
3rd Quarter - On or before the fifteenth day of the ninth month after the beginning of the taxable year.
4th Quarter - On or before the fifteenth day of the twelfth month of the taxable year.
Yes. Beginning with tax year 2016, a business is required to make estimated payments for a municipality if the estimated tax liability for the year, for that municipality, is $200 or more for any municipality.
For example, if your estimated tax liability is $250 (estimate for City A is $100 and estimate for City B is $150), you are not required to make estimated payments because each municipality’s portion of the estimated tax liability is less than $200.