The City of Oakwood has established business tax return instructions, requiring every business entity to file a return reporting net profit or loss. The return must be filed on or before the fifteenth day of the fourth month following the close of the tax year. Taxpayers may deduct a net operating loss incurred in a taxable year beginning on or after January 1, 2017. Late filing and payment penalties apply.
Details
Subject
Business Tax Return Instructions
Summary
The City of Oakwood has established business tax return instructions, requiring every business entity to file a return reporting net profit or loss. The return must be filed on or before the fifteenth day of the fourth month following the close of the tax year. Taxpayers may deduct a net operating loss incurred in a taxable year beginning on or after January 1, 2017. Late filing and payment penalties apply.