Jersey-New Albany Jedd II

RULES & REGULATIONS

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2106 BUSINESS EXPENSES

The unreimbursed employee expense (2106) deduction has been eliminated for federal income tax purposes for most employees. 

ADDITIONAL RULES-INDIVIDUAL

Individuals residing within the boundaries of the Jersey-New Albany Joint Economic Development District (JEDD) II will be subject to the municipal income tax. Residents with taxable income must file an annual tax return with RITA and pay tax due to the Jersey-New Albany JEDD II on their taxable income. Municipal tax returns are due each year on the same date as the State of Ohio annual income tax return, unless you have received a filing extension. Tax returns may be filed electronically at ritaohio.com through MyAccount or by using FastFile.

AGE EXEMPTION

Individuals under 18 years of age are 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.

NET OPERATING LOSS

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

WITHHOLDING FILING FREQUENCY

If withholding amount is $12,000 or more in the previous calendar year or more than $1,000 in any month of the preceding calendar year, file semi-monthly - due the 3rd banking day after the 15th day of the month and the 3rd banking day after the last day of the month. If withholding amount is less than $12,000 but more than $2,399 in the preceding calendar year or less than $1,000 but more than $200 in any month of the preceding calendar quarter, file monthly - due the 15th day of the following month. Employers not required to file semi-monthly or monthly, file quarterly - due the last day of the month following the end of the quarter.