George Timoteo, CPA
Senior Manager
The enactment of Ohio
House Bill 5 became effective January 1, 2016, and with this law came a large
number of city income tax rule changes.
One seemingly minor change not widely publicized is the due date for
making city withholding tax payments.
The subtle change is that the payment
of withholding taxes is due on the 15th of the month following the
end of the reporting period. The
important change is that the payment due date makes no allowance for weekends
or holidays. Therefore, if the 15th
of a given month falls on the weekend, the payment is still due on the 15th
of the month. No allowance is made for
the postmark date of a mailed payment.
Therefore, considerations should be made to make sure payment due will
be received by the city in question no later than the 15th of the
month. Payments received after the 15th
of the month can be subjected to a rather severe 50% penalty of the tax amount
paid.
