Etna-Reynoldsburg JEDD 3

RULES & REGULATIONS

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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

Beginning with Tax Year 2024, Individuals under 18 years of age are exempt from paying municipal income tax. For Tax Years 2016-2023, 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.

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.