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The deadline for calendar year end taxpayers to elect into the centralized collection and administration of the municipal net profit tax is March 1, 2019. Taxpayers must opt into the system administered by the Ohio Tax Commissioner by the first day of the third month after the beginning of the taxpayer’s taxable year. The ability to elect to file on a centralized basis is available at http://www.tax.ohio.gov/MunicipalTax.aspx or by filing Form MNP R. A taxpayer electing into the statewide system must also notify each municipal corporation in which the taxpayer conducted business during the previous taxable year. Notification of the election should be made by filing Form MNP MN with each municipality. However, please note that brand new businesses are not required to notify any municipal corporations of its election.
Since the centralized collection and administration system became available last year, over 3,000 businesses have opted into system. Since that time, the Tax Commissioner has announced the ability to efile municipal net profit tax returns. Taxpayers seeking the benefits of centralized collection and administration must act quickly as the deadline for taxable year 2019 is March 1, 2019.
If you have any questions, please contact Adam Garn, Steve Hall, Tom Zaino or any one of the other professionals at Zaino Hall & Farrin LLC.