Tax Ordinance

Tipp City

Tax Ordinance

The City of Tipp City has a mandatory filing requirement.

This means each resident (18 yrs. of age or older) or business operating within the city must file a return each year with the city regardless of any tax due on the return. The rate of tax is 1.5% with 1.5% credit for income taxes paid to another municipality. Estimated payments are due if the amount of tax liability to be paid with the return is greater than $200.00. Penalty and interest are assessed for failure to make estimated payments.

Business losses of Tipp City residents may be used to offset earned income when the losses are incurred in Tipp City or in a jurisdiction having a tax rate less than 1.5%.  When such losses are incurred in another city, only the portion of the loss attributable to the difference in tax rates may be used as an offset.  The actual location of the loss must be considered when determining if a loss is allowable.

There is no exclusion or deduction from Tipp City taxation for the following : 1/2 self-employment tax; self-employed health insurance premiums; greater than 2% s-corp owner health insurance premiums;  the Federal non-deductible portion of meals & entertainment; net operating loss carry-forward/carry backs.

Required attachments for individual returns include the federal Form W-2 reporting municipal taxable income and municipal tax withheld and/or copy of other city’s tax return showing tax paid to that city, federal Schedules C, E, and F, and Form 2106 to the extent applicable.

Required attachments for business returns include the applicable federal Form 1120, 1120A, 1120S, 1065 or 1041 to include Schedules A through M-2.   IRS.GOV

Spouses may elect to file separate or joint returns regardless of federal and state filing elections. There is no city tax advantage for a husband and wife to file separate city returns.

Upcoming Events

Capital Improvement Plan Workshop

Sep 25, 2017 | 260 S. Garber Drive
The Capital Improvement Plan Workshop will begin at 3pm and be held at the Tipp City Government Center 260 S. Garber Drive Tipp City, OH 45371

Restoration Board

Sep 26, 2017 | 260 S Garber Drive
7:30 PM at the Tipp City Government Center     The Restoration Board meeting is held on the fourth Tuesday each month.

City Council

Oct 2, 2017 | 260 S. Garber Drive
City Council Meetings begin at 7:30PM and are held at the Tipp City Government Center 260 S. Garber Drive Tipp City, OH 45371

Tree Board

Oct 11, 2017 | 260 S. Garber Drive
The Tree Board meets at 5:15PM on the second Wednesday of even months.  Meetings are held at the Tipp City Government Center, 260 S. Garber Drive, Tipp City, OH, 45371