Title
AN ORDINANCE AMENDING VARIOUS SECTIONS OF TITLE FOUR - TAXATION, CHAPTER 891 - EARNED INCOME TAX REGULATIONS, OF THE CODIFIED ORDINANCES OF THE CITY OF HUDSON.
Brief Description: This Ordinance amends various sections of Section 891 of the City's codified ordinances to include changes required by Ohio House Bill 33, the state's biennium budget bill. These changes are required to be adopted and in effect on January 1, 2024.
Body
Legislative History
Ordinance 15-179 An Ordinance Adopting New Chapter 891 of the Codified Ordinances of the City of Hudson Regarding Municipal Income Tax
Purpose & Explanation
The purpose of this Ordinance is to amend Chapter 891 of the City's codified ordinances to adopt certain changes as required by Ohio House Bill 33, the state's biennium budget bill. The changes are summarized as follows:
Annual Return Filing - requires filing an annual income tax return by every taxpayer whether or not a tax is due thereon.
Net Profit Allocation - allows for the allocation of net profit tax to be limited to a designated reporting location rather than the location(s) of where their employees are working. This simplifies the issue of employers having to allocate net profit tax to every city in which their employees are working remotely.
Due Date Extension - allows the extended due date for an income tax return for a taxpayer that is not an individual to be the 15th day of the eleventh month after the last day of the taxable year to which the return relates. Currently, the extension due date is 15th day of the tenth month. This gives an additional 30 days for extended filings.
Interest and Penalties - For tax years ending on or after January 1, 2023, the penalty for late filing is limited to $25. Currently, the penalty is $25 per month with a maximum of $150. Requires waiver of penalty for first time failure to file on time.
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The following were two additional provisions in HB 33 the City had ...
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