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Ohio City Rates dialog

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Use this dialog to set up tax rates, return due dates, and other information for specific Ohio cities that you can then assign to any 1040, 1120, or 1065 Ohio Cities client.
To open this dialog, choose Setup, 1120 Corporation, 1065 Partnership, or 1040 Individual, select the Ohio Cities tab, and then select the Rates button.
note
  • Depending on your security configuration, you might be prompted to enter the master password before you can open any entity type's tab.
  • Also, the Ohio Cities tab only appears if you are licensed for UltraTax/1120-OH Cities, UltraTax/1065-OH Cities, or UltraTax/1040-OH Cities and have it installed.
  • The majority of the fields on this dialog already contain the appropriate information. You can update this information as necessary using this dialog.
  • Any updates to city information in the General or Generic only group boxes will be applied to the 1120 and 1065 Ohio Cities applications (if licensed), and vice-versa.

Fields & buttons

City name
Select the appropriate city from the drop-down list for this field. All known taxing Ohio cities are included in this list.
City code
The identification code that UltraTax CS assigned to the selected city is displayed in this field. Note that this code cannot be edited.
Tax rate
This field contains the current-year municipal tax rate. Use the
Tax rate
 field to enter the desired rate. If the municipality changed its tax rate mid-year, the rate shown is annualized.
Next year's estimate tax rate
Use this field to enter the desired rate for estimated tax calculations. If the municipality changes next year's tax rate mid-year, the rate shown is annualized.
City region
Select the appropriate city region from the drop-down list for this field. You can use this field to change the region code for cities coded CCA, RTA, or GEN. Other regions cannot be changed.
Credit limit
Use this field to enter or edit the credit limit. UltraTax CS calculates the credit for tax paid to other cities based on the percentage entered in this field. The value of this field will never exceed the current-year tax rate.
Tax credit
Use this field to enter or edit the tax credit. The credit for tax paid to other cities is calculated by multiplying taxable income in the nonresident city by the resident credit limit and resident tax credit. For example, if you enter
50.000
 for a certain city, a resident of that city will receive the lower of either 50 percent of the tax paid to the other city or 50 percent of the taxable income in the nonresident city multiplied by the resident city tax rate. For CCA municipalities, the amount in the
Tax credit
 is assumed to be 100 percent of the amount in the
Credit limit
 field.
1065 and 1120 only group box
Use the fields in this group box to enter minimum penalty and refund amounts as well as other information regarding rates for corporate and partnership clients.
Generic only group box
Use the fields in this group box to enter the taxing authority's address for cities that are coded GEN in the
City region
 field. Note that these fields are disabled for all other cities.
Restore defaults button
Select this button to restore the default settings for the selected city. Upon confirming the restoration, all values for the city will be reset to those provided with UltraTax CS.

This article applies to:

  • PRODUCT: UltraTax CS,UltraTax CS

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