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GENERAL INFORMATION FOR BUSINESS ENTITIES
6. STATUS CHANGES
1. WHO MUST FILE Taxpayers with name, address, or other status changes or
All business entities having gross receipts, employees, or assets, or reorganizations must file those changes with the Income Tax Department
performing services or in any other way conducting business within the within 30 days of the change.
City of Englewood, whether or not any income was earned or any tax is
due, are required to file an annual return.
7. AMENDED RETURNS
All resident business entities including trusts, corporations, S- An amended return is necessary for any year in which an amended
Corporations, joint ventures, partnerships, and other businesses are Federal return is filed or in which your Federal tax liability has changed.
required to file an annual return on an entity basis. An amended return must be filed within 90 days of the filing date of any
amended Federal return and must include a copy of the amended Federal
Non-resident business entities, including corporations, S-Corporations, return.
joint ventures, partnerships and other businesses that conduct business,
perform services, have a location or have income (or losses) in
Englewood are required to file an annual return on an entity basis. 8. CONSOLIDATED RETURNS
The Income Tax Department will accept consolidated returns from
NOTE: Anyone receiving a notification letter has an active account and property affiliated subsidiary corporations. The Income Tax Department
will need to file a return. All accounts remain in active status until a “final” may require or disallow the filing of a consolidated return when certain
return is filed. transactions, apportionments, or other circumstances appear to distort
the net profits allocable to Englewood.
2. DUE DATE
Returns are due by April 15 following the close of the calendar year; or
within 3½ months of the end of the year for those businesses on a fiscal 9. DECLARATION OF ESTIMATED TAX
year basis. Every taxpayer who anticipates having income tax due of $200.00 or
more must file an annual declaration of estimated tax. At least 90% of
the current year tax liability or 100% of the previous year liability must be
3. EXTENSIONS paid by January 15th. Failure to pay estimated taxes timely may result in
An extension of time to file does not extend the time to pay the tax. a penalty and interest assessment. Quarterly coupons are available on
our website: www.englewood.oh.us.
Interest will be assessed on any tax remaining unpaid after the original
due date. Additionally, there is not a provision for extending the current
year first quarter estimate payment. 10. OPERATING LOSSES
Under the provisions of the Income Tax Ordinance of Englewood, there
Extension request forms may be obtained from the tax office and our may be no carry-forward nor carry-back of operating losses for tax years
website: www.englewood.oh.us. 2017 and before. Beginning in tax year 2018 thru 2021, up to 50% of the
previously unused 2017 or after net loss can be used to offset the current
4. SUPPORTING DOCUMENTS year taxable income before apportionment. This offset is limited to the
Documentation is necessary to verify all amounts of taxable or nontaxable lesser of 50% the total available net loss or 50% of the current year
incomes, expenses, deductions, and credits. taxable income before net operating loss carry forward is applied. Tax
year 2022 and moving forward 100% of the net operating loss carry
The following are examples (examples only, not all inclusive) of types of forward is allowable to offset the net profit.
forms and schedules to attach as applicable: Form 1120, Form 1120-S,
Form 1065, Schedules A, K, and K-1, pages 1 & 2 of Form 4797, and all
other supporting schedules and statements. 11. LATE FILING FEE – PENALTIES AND INTEREST
When returns are filed after the due date by business entities required to
Those taxpayers claiming deductions for commissions paid, contract file an annual Englewood return, a late filing fee of $25.00 per month is
labor, and the like, must provide a schedule showing a breakdown of assessed without regard for the amount of tax due. Late filing fees will
amounts paid, and how much of said work was in Englewood, the name be assessed even though no tax may be due.
to whom amounts were paid with addresses and social security numbers
or federal identification numbers. Copies of Form 1099(s) may be sent in
lieu of the schedule. 12. ASSISTANCE
For assistance in preparing this return, or if you have any questions,
5. RENTALS please contact our office. We are located in the Englewood Municipal
Net rental earnings from all types of real estate or other property or Building at 333 W National Road, Englewood, Ohio.
equipment are taxable if located within Englewood. An annual return is
required even though a loss may have been incurred. Office hours are 8:00 A.M. to 4:30 P.M. Monday through Friday.
Phone (937) 836-5106 or Fax (937) 771-2891 or visit our website at:
www.englewood.oh.us.
