2106 Business Expenses are limited to the amount deductible for federal tax purposes.
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.
NET OPERATING LOSS
A net operating loss may be carried forward for 5 years.
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.