Village of New London
Income Tax Department
W2 STATEMENTS; W3 RECONCILIATION FORMS
On or before the last day of February following the calendar year in which taxes were withheld
CALENDAR YEAR NET PROFITS; INDIVIDUAL TAX RETURN
Due April 15th
When April 15th falls on a Saturday, Sunday or legal holiday, the annual tax return is considered timely filed with a postmark of April 15th.
FISCAL YEAR ANNUAL NET PROFITS
15th day of the fourth month following the taxpayer's fiscal year-end
WITHHOLDING MONTHLY FILERS
15th day of the following month
WITHHOLDING QUARTERLY FILERS
On or before the last day of the month following the last day of each calendar quarter
WITHHOLDING SEMI-MONTHLY FILERS
Taxes withheld in the first 15 days of the month are due by the third banking day after the 15th of the month
Taxes withheld from the 16th day of the month, to the end of the month, are due by the third banking day after the last day of that month.
INDIVIDUAL ESTIMATED PAYMENTS
APRIL 15TH, JUNE 15TH, SEPTEMBER 15TH, JANUARY 15TH
CALENDAR YEAR NET PROFIT QUARTERLY ESTIMATED PAYMENTS
APRIL 15TH, JUNE 15TH, SEPTEMBER 15TH, DECEMBER 15TH
FISCAL YEAR NET PROFIT QUARTERLY ESTIMATED PAYMENTS
15TH OF THE FOURTH, SIXTH, NINTH, TWELFTH MONTH OF TAXABLE YEAR
On or before the last day of February following the calendar year in which taxes were withheld
CALENDAR YEAR NET PROFITS; INDIVIDUAL TAX RETURN
Due April 15th
When April 15th falls on a Saturday, Sunday or legal holiday, the annual tax return is considered timely filed with a postmark of April 15th.
FISCAL YEAR ANNUAL NET PROFITS
15th day of the fourth month following the taxpayer's fiscal year-end
WITHHOLDING MONTHLY FILERS
15th day of the following month
WITHHOLDING QUARTERLY FILERS
On or before the last day of the month following the last day of each calendar quarter
WITHHOLDING SEMI-MONTHLY FILERS
Taxes withheld in the first 15 days of the month are due by the third banking day after the 15th of the month
Taxes withheld from the 16th day of the month, to the end of the month, are due by the third banking day after the last day of that month.
INDIVIDUAL ESTIMATED PAYMENTS
APRIL 15TH, JUNE 15TH, SEPTEMBER 15TH, JANUARY 15TH
CALENDAR YEAR NET PROFIT QUARTERLY ESTIMATED PAYMENTS
APRIL 15TH, JUNE 15TH, SEPTEMBER 15TH, DECEMBER 15TH
FISCAL YEAR NET PROFIT QUARTERLY ESTIMATED PAYMENTS
15TH OF THE FOURTH, SIXTH, NINTH, TWELFTH MONTH OF TAXABLE YEAR
Download the 2019 Income Tax Form Here:
Due Date: April 15, 2020
| 2019 Income Tax Form |
| 2018 Income Tax Form |
| 2017 Income Tax Form |
| 2016 Income Tax Form |
| Under 18 Refund Request Form |
| Extension Request Form |
PAYMENT PLAN OPTIONS
| Payment Agreement |
| Credit Card Agreement |
ONLINE TAX PAYMENT IS NOW AVAILABLE
https://trx.npspos.com/payapp/public/ECSale.html?siteId=22441&deptId=22441&urlKey=e85aad24b114b745b608e1d9eedac7022e18f770
https://trx.npspos.com/payapp/public/ECSale.html?siteId=22441&deptId=22441&urlKey=e85aad24b114b745b608e1d9eedac7022e18f770
New London Tax Facts
Tax Rate: 1.5% ( Renewed until 12/31/22)
Tax Credit for Taxes Paid To Other Cities: 1%
Mandatory filing for:
All residents of New London, age 18 and older (including retirees)
All individuals or companies operating a business within the city limits of New London.
Individual and calendar year business annual income tax returns are due each year on or before April 15th or the Federal tax return date, whichever is later.
Supporting documentation required when filing Village of New London return:
Copy of the front page of Federal 1040
W-2 forms showing Box 5 and local income tax withheld
Any federal schedules that relate to business activities including rental property
| 2017 Income Tax Ordinance.pdf |
| Tenant Roster |
Employer Income Tax Forms
| Employer Quarterly Withholding Form |
| W-3 Employer Reconciliation Form |
| Business Application |
| Employer Withholding Application |
On June 14, 2016 Gov. John Kasich signed SB 172. The bill covered an amendment to municipal tax laws that changed the quarterly withholding deadline back to the last day of the month instead of the 15th.
Interest Rate Information
Per the Ohio Revised Code, 718.27 operative 1/1/2016:
“Federal short-term rate” means the rate of the average market yield on outstanding marketable obligations to the United States with remaining periods of maturity of three years or less, as determined under section 1274 of the Internal Revenue Code for July of the current year.
“Interest rate as described in division (A) of this section” means the federal short-term rate, rounded to the nearest whole number per cent, plus five per cent. The rate shall apply for the calendar year next following July of the year in which the federal short-term rate is determined in accordance with division (A)(4) of this section.
The Federal Short Term Rate is available on the following webpage:
http://apps.irs.gov/app/picklist/list/federalRates.html
For July 2016, the Annual Short-term AFR is 0.71% so the annual interest rate for tax year 2017 tax obligations will be 6% annually or 0.500% per month (or part thereof) of the tax not paid by the due date.
This interest rate of 0.500% per month (or part thereof) will be in effect for withholding tax for tax year 2017 not paid by the due date.
- Interest rate for tax year 2019 and 2020 is 7% or .583 monthly (Calculated based on federal short term rate plus 5%)
- Interest rate for tax year 2018 is 6% (Calculated based on federal short term rate plus 5%)
- Interest rate for tax year 2017 is 6%
- Interest rate for tax year 2016 is 5%
- Ohio Revised Code 718.27 requires that municipalities set the interest rate for delinquent unpaid tax liabilities at the federal short-term rate (rounded to the nearest whole number percent) plus 5 percent (5%). Interest shall be imposed per annum on all unpaid income tax, unpaid estimated income tax, and unpaid withholding tax. The interest rate shall apply to the calendar year following the July of the year in which the federal short-term rate is determined.
Per the Ohio Revised Code, 718.27 operative 1/1/2016:
“Federal short-term rate” means the rate of the average market yield on outstanding marketable obligations to the United States with remaining periods of maturity of three years or less, as determined under section 1274 of the Internal Revenue Code for July of the current year.
“Interest rate as described in division (A) of this section” means the federal short-term rate, rounded to the nearest whole number per cent, plus five per cent. The rate shall apply for the calendar year next following July of the year in which the federal short-term rate is determined in accordance with division (A)(4) of this section.
The Federal Short Term Rate is available on the following webpage:
http://apps.irs.gov/app/picklist/list/federalRates.html
For July 2016, the Annual Short-term AFR is 0.71% so the annual interest rate for tax year 2017 tax obligations will be 6% annually or 0.500% per month (or part thereof) of the tax not paid by the due date.
This interest rate of 0.500% per month (or part thereof) will be in effect for withholding tax for tax year 2017 not paid by the due date.
Business Hours: 8:00 a.m. to 4:00 p.m. Monday-Friday (Closed Federal Holidays)
If you have any questions regarding the tax increase please contact Michelle Popa at (419) 929-4461 ext. 222 or by email to nltax@newlondonohio.com.
For questions, comments, or tax help please contact:
Michelle Popa, Income Tax Administrator
115 East Main Street
New London OH 44851
(419) 929-4091 ext. 222 - phone
(419) 929-0738 - fax
email: nltax@newlondonohio.com
New London OH 44851
(419) 929-4091 ext. 222 - phone
(419) 929-0738 - fax
email: nltax@newlondonohio.com
