Village of New London
Income Tax Department
Download the 2016 Income Tax Form Here:
| 2016 Income Tax Form |
| Under 18 Refund Request Form |
| Extension Request Form |
PAYMENT PLAN OPTIONS
| Payment Agreement |
| Credit Card Agreement |
New London Tax Facts
Tax Rate: 1.5%
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 |
Employer Income Tax Forms
| Employer Quarterly Withholding Form |
| W-3 Employer Reconciliation Form |
| Business Application |
| Employer Withholding Application |
Income Tax Penalty and Interest As required by Ohio Revised Code effective 1/1/2016 for tax years 2016 and greater, the Village of New London is releasing the mandated interest and penalty charges.
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 2015, the Annual Short-term AFR is 0.48% so the annual interest rate for tax year 2016 tax obligations will be 5% annually or 0.417% per month (or part thereof) of the tax not paid by the due date.
This interest rate of 0.417% per month (or part thereof) will be in effect for withholding tax for tax year 2016 not paid by the due date.
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 2015, the Annual Short-term AFR is 0.48% so the annual interest rate for tax year 2016 tax obligations will be 5% annually or 0.417% per month (or part thereof) of the tax not paid by the due date.
This interest rate of 0.417% per month (or part thereof) will be in effect for withholding tax for tax year 2016 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
