Local Tax Due Date is April 15, 2008
The Village of Holland, Ohio has a local income tax rate of 2.25% on all salaries, wages and other compensation earned in the Village, either as a resident or non-resident, for services performed in the Village of Holland, Ohio, sales, and net-profits on business. For a listing of streets and addresses within the Holland taxing jurisdiction, click here. Due date is April 15th or three months and fifteen days after fiscal year-end or copy of federal extension by the due date. Each taxpayer, whether or not a tax is due, must file a return by the due date. Tax forms are on the internet or the tax office will accept a generic form if all pertinent information is included. Failure of taxpayer to receive or procure a return shall not excuse the taxpayer from filing or from paying the tax due. Late charge is $10, plus 2% penalty per month and 1.5% interest per month. Contact the tax department for assistance on completing the form or questions.
Business' must report on net-profits as filed with the IRS, whether a resident business; or non-resident business', for sales, work done or services performed or rendered and conducted in the Village of Holland, Ohio.
Each employer shall on the last day of the month following each calendar quarter, make a return and remit to Village of Holland tax required to be withheld at rate of 2.25%. Before January 31st following the calendar year, employer's shall file an annual reconciliation return along with information for such employee's from which Holland income tax has been withheld.
DO:
- Include fringe benefits subject to federal tax, ordinary gain (4797), prizes or lotteries in excess of $9999.99 by a resident or if income was derived from Holland source by nonresident.
- Report wages if under 18 years of age.
- Report jury duty pay earned in excess of $1000 annually
- Report on income associated with covenants not to compete, royalties, copyrights and trademarks, to the extent subject to IRS tax.
DON'T:
- Deduct business loss against W2 income. If a resident operates a business in another taxing municipality and a loss is incurred the amount of loss is subject to the taxing jurisdiction where located and may not be used to reduce the taxpayer's Holland base.
- Report military income, poor relief, social security benefits, retirement income, disability benefits, alimony, interest and dividends.
- Un-reimbursed employee business expenses (2106) as reported on federal tax return – must furnish Schedule A of form 1040 and 2106 form.