Marengo

Morrow County

http://www.villageofmarengo.org

RITA Start Date: 12/01/2016

Recent Tax and Credit History

From Date	Thru Date	Tax Rate	Credit Factor (Tax Credit)	Credit Rate (Credit Limit)
12/01/2016	current	1.000 %	0.000 %	0.000 %
01/01/2013	11/30/2016	0.000 %	0.000 %	0.000 %

* History displayed for the past 7 years.

Special Notes and Tax Documents

Tax Year 2016 and After
Tax Years 2015 And Prior

RULES & REGULATIONS

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TAX ORDINANCE

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2106 BUSINESS EXPENSES

Beginning with Tax Year 2018, the unreimbursed employee expense (2106) deduction is eliminated for federal income tax purposes for most employees. For Tax Year 2017 and prior, 2106 Business Expenses are limited to the amount deductible for federal tax purposes.

AGE EXEMPTION

Individuals under 18 years of age are NOT exempt from paying municipal income tax.

BALANCE DUE/OVERPAYMENT INFORMATION

Amounts under $10.01 will not be collected or refunded. The $10.01 de minimis threshold does not apply to amounts required to be withheld by employers.

ESTIMATED PAYMENT REQUIREMENTS

Quarterly payments of estimated tax are required if the anticipated amount due is $200 or more.

LOTTERY/GAMBLING WINNINGS

Lottery and gambling winnings are taxable - no minimum. Gambling losses may not offset gambling winnings unless the taxpayer is a professional gambler per IRS regulations.

NET OPERATING LOSS

A net operating loss may be carried forward for 5 years.

S-CORPS

S-Corp distributive shares that do not represent wages are generally not taxable and should not be reported on Form 37.

WITHHOLDING FILING FREQUENCY

If withholding amount is $2,400 or more in the immediately preceding calendar year or more than $200 in any one month of the preceding calendar quarter, file monthly - due date is the 15th day of the following month. All employers not required to file monthly, file quarterly - due date is the last day of the month following the end of the quarter.

2106 BUSINESS EXPENSES