Fairfield County

Recent Tax and Credit History

From Date Thru Date Tax Rate Credit Factor
(Tax Credit)
Credit Rate
(Credit Limit)
07/01/2016 current 1.000 % 0.000 % 0.000 %
01/01/2011 06/30/2016 0.000 % 0.000 % 0.000 %

* History displayed for the past 7 years.

Special Notes and Tax Documents

2106 BUSINESS EXPENSES 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, Schedule J.
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.
2106 BUSINESS EXPENSES Income tax effective 7/1/2016
AGE EXEMPTION Income tax effective 7/1/2016
ESTIMATED PAYMENT REQUIREMENTS Income tax effective 7/1/2016
LOTTERY/GAMBLING WINNINGS Income tax effective 7/1/2016
NET OPERATING LOSS Income tax effective 7/1/2016
RENTAL INCOME Income tax effective 7/1/2016
S-CORPS Income tax effective 7/1/2016
WITHHOLDING FILING FREQUENCY Income tax effective 7/1/2016