Businesses FAQs - Net Profit Estimates

Why does my business have to pay estimated municipal income tax?

As with the Federal Income Tax, a Municipality may require taxpayers to make estimated payments during each tax year. To determine whether your municipality required estimated tax payments for tax years prior to 2016, please visit the RITA Municipalities, click on your municipality and select the Special Notes section for those tax years. 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.

What are the due dates for estimated municipal income taxes?

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.

Is there a minimum estimate amount?

Yes. Beginning with tax year 2016, a business is required to make estimated payments if the estimated tax liability for the year is $200 or more for any municipality.