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Ohio Estimated Payments

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Question
Ohio Estimated Payments

Answer

If your income is subject to Ohio withholding, you generally do not need to make estimated payments. You should make estimated payments for tax year 2022 if your estimated Ohio tax liability (total tax minus total credits) less Ohio withholding is more than $500.

Estimated payments are made quarterly according to the following schedule:

1st quarter - April 18, 2022

2nd quarter - June 15, 2022

3rd quarter - Sept. 15, 2022

4th quarter - Jan. 17, 2023

Use the Ohio IT 1040ES vouchers to make estimated Ohio income tax payments. Use the Ohio SD 100ES vouchers to make estimated Ohio school district tax payments. You can determine your estimated payments using the worksheet included with the vouchers. Joint filers should determine their combined estimated Ohio tax liability and make joint estimated payments.

Note: Instead of making estimated payments, you can increase your Ohio withholding by filing a revised Ohio IT 4 with your employer. Also, special rules regarding estimated payments apply to certain taxpayers with farming and/or fishing income. See Adm. Code 5703-7-04.

If you do not make the required estimated payments, you may be subject to an interest penalty for underpayment of estimated taxes. See form IT/SD 2210.

For more information, see the "Income - Estimated Income/School District Taxes and the 2210 Interest Penalty" topic at tax.ohio.gov/ FAQ. See also R.C. 5747.09.


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Article Details
Views: 1846 Created on: Jun 15, 2013
Date updated: Dec 07, 2021
Posted in: States, Ohio

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