GENERAL INSTRUCTIONS FOR DECLARATION OF ESTIMATED TAX


WHO MUST FILE

All Port Clinton residents, resident businesses and other persons or businesses performing services and/or conducting business in the City of Port Clinton who are not subject to withholding are required to file a Declaration of Estimated Port Clinton City Tax if $50.00 or more City tax is expected to be due by year's end.

WHEN TO FILE

The Declaration of Estimated City Income Tax and the first quarter payment (at least 25% of tax) due by April 30 or within four
months of the start of the fiscal period.

PAYMENTS

First Quarter payment due with Declaration (April 30)

Payment vouchers will be sent for other quarters.
Second Quarter payment due June 30
Third Quarter payment due September 30
Fourth Quarter payment due December 31



90% REQUIREMENT

A Declaration of Estimated Tax which is less than 90% of taxpayer's tax liability shown on the final return shall NOT be considered filed in good faith. The difference of income tax shall be subject to penalty (1.5% per month) and interest (1.5% per month).

ADDED PENALTY

$50.00 is due if any of the following apply:
  1. Non-filing of a Declaration of Estimated Tax
  2. Non-payment of estimated tax due April 30, June 30, September 30 and December 31
  3. Failure to pay 80% of tax liability due by December 31

One exception: If you have paid 100% of last year's city income tax.

AMENDMENT

You may adjust the Declaration of Estimated City Income Tax and the quarterly payment on any quarterly statement whenever conditions warrant it.



HOW TO COMPLETE YOUR DECLARATION OF
ESTIMATED PORT CLINTON INCOME TAX


A. Indicate the calendar year or your fiscal year.

B. Calculation of estimated income tax

Line 10. Enter the total estimated income subject to Port Clinton income tax multiplied by 1 1/2% of the amount shown on line 10.

Line 11. Withholding Tax Credits:

  1. Enter tax to be withheld and remitted by employer to Port Clinton.

  2. Enter tax to be withheld and remitted by employer to another city at that city tax rate, but not to exceed 1% of income earned in that other city.
  3. Enter the total of lines 11A and 11B.

Line 12. Enter the difference between line 10 and 11C.

Line 13. Enter 1/4 of the amount shown on line 12, unless Declaration is for less than 12 months, in which case, prorate for the number of remaining quarters in the tax year.

Line 14. Enter the amount of overpayment, if any, shown on final return from last year or, if you are amending a previous estimate, indicate the amount paid on such estimate to date.

Line 15. Enter the amount being paid with this Declaration.



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