- What is the Tax Rate for the City of Xenia?
The tax rate effective January 1, 2011 is 2.25% with credit allowed for taxes paid to other cities up to 1.5%. Xenia residents who pay JEDD-01 tax may take full credit for this tax on their Xenia income tax return.
- Who has to file City of Xenia Taxes?
A Xenia City tax return is required (even if no tax is due) if you are:
•A resident (or part year resident) between the ages of 18-65
•A resident over the age of 65 with earned income (W-2’s), rental and/or business income
•An individual or business doing business in or for the City of Xenia
•A 16 or 17 year old who has not been fully withheld
- What is a complete tax return?
A complete tax return includes completing all appropriate areas of the return, attaching all supporting schedules and documentation (i.e., W-2, Schedule C, E, 1120, 1065-K, ect.), and signatures signed (both spouses are required if filing jointly).
- Who may receive an extension?
When, for good cause, a return cannot be filed in a timely manner, an extension may be granted. An extension is for filing a return, not for payment of the tax and therefore an estimate amount of tax must be paid with the request to avoid penalty/interest. Amounts paid after the original due date of the return are subject to interest and/or penalties as provided by ordinance.
Xenia also accepts a Federal extension as an extension to file, but a copy of the Federal extension must be attached to the return when it’s filed.
- What is income verification?
•All W2(s) showing box 1 or 5 Wages
•W2(s) showing Xenia City and other city credits- boxes 18-20 (in some cases several W2s from the same employer may be required)
•If a W2 shows “Multi” or “Many” a breakdown of city credits is required in order to receive credit
•Schedule C or E (when applicable)
- I live in Xenia and my employer doesn’t withhold any Xenia tax. Can I pay all of my tax when my return is due?
No. The Xenia Ordinance requires you to have at least 90% of your total tax liability paid in by January 15th of the following tax year. This can be paid through withholdings and/or quarterly estimated payments. If you do not have at least 90% of your current year’s tax (or an amount equal to 100% of your prior year’s tax) paid by January 15th, you will be charged an underpayment of estimated tax penalty.