fbpx

< Back to Thought Leadership

Simplifying Ohio Municipal Tax

In June 2017, Ohio enacted HB 49 to provide taxpayers the option to file one municipal net profit tax return effective starting with the 2018 tax year. Businesses will be able to file one form and one payment to municipalities through the Ohio Business Gateway. The Ohio Department of Taxation will handle all administrative functions for those centrally-filed returns and will distribute payments to the appropriate municipalities. They will also handle audits and appeals. All business must opt-in to take advantage of the centralized filing.

How to Register

To make the election, taxpayers must register with the Department of Taxation and notify all municipalities of previous filed net profit tax returns by the first day of the third month of the taxpayer’s taxable year. New businesses need only register with the Department of Taxation.

There are two ways to register with the Department of Taxation.

  1. At the Department’s website – tax.ohio.gov
  2. Filling out and submitting a paper registration form – Form MNP-R

The election automatically renews after each tax year. Businesses have to notify the Department of Taxation and municipalities to terminate the election.

If you have questions in the meantime, please contact your local Blue & Co. tax representative.

 

 

Blue & Co.,LLC - Read more in our Hot Topic Archive! Click Here. Like what you read? Subscribe to our newsletter. Click Here.

 

quickbooks desktop discontinued

QuickBooks Desktop No Longer Available for New Subscriptions after July 2024

By Nancy Orben, CPA, Senior Manager at Blue & Co. Intuit has announced an official cutoff date for new purchases of QuickBooks Desktop. How does this effect you? If your […]

Learn More
donor advised funds

IRS Proposed Regulations: Impact on Donor Advised Funds

By Corey Schunemann, CPA, Manager at Blue & Co. The IRS issued proposed regulations that could dramatically affect the landscape and operations of Donor Advised Funds (“DAF”). While many organizations […]

Learn More

Participate in the 2024 Dental Survey: Help Blue & Co. Offer Better Solutions for the Dental Industry

Since 1995, Blue & Co. has partnered with private practice dentistry to give something back to the profession that our dental clients desperately needed: good data. And we aim to […]

Learn More