Due
Date |
Type of Tax (Form)
|
7/15/11 Ohio, School District,
and City Income Tax Withheld during June (Monthly filers)
7/25/11
Sales Tax Return for tax collected in June (Monthly filers)
7/25/11
Sales Tax Return for tax collected in January - June, 2011 (Semi-Annual filers)
8/01/11 All
second quarter, 2011 payroll tax reports:
Federal withheld income and FICA taxes (Form 941)
Federal unemployment tax - if over $500, make deposit
(deposit with coupon-check 940 box; or submit electronically)
State Unemployment Tax (Form JFS-66111)
Ohio Withheld Income Tax (Form IT-501) (quarterly filers)
School
District Tax Withheld (Form SD-101) (quarterly filers)
City Withheld Income Tax (Form W-1) (quarterly filers)
Workers' Compensation (Form DP-21)
Be sure to make your federal income and FICA withholding tax deposits
timely! There are penalties for late deposits!
Deposits are required to be paid electronically.
In 2011, the rate to withhold for
employees for Social Security is 4.2% and
Medicare is 1.45%
of the first $106,800 of wages plus 1.45% of wages above $106,800 for Medicare. The
employer
share of the tax for Social Security is 6.2% and Medicare is 1.45% of the first $106,800 of wages
plus 1.45% of wages above $106,800 for Medicare. To calculate the payroll tax deposit, add the
employee withholdings and employer share of the tax for Social Security and Medicare and add
the federal
income tax withholdings.
8/10/11 Second
quarter 2011 Commercial Activity Tax (CAT) Return-must be filed electronically
8/15/11 Ohio, School
District, and City Income Tax Withheld during July (Monthly filers)
8/23/11 Sales Tax
Return for tax collected in July (Monthly filers)
9/15/11 Ohio,
School District, and City Income Tax Withheld during August (Monthly filers)
9/15/11 Third
installment 2011 estimated U.S., Ohio, School District and City individual
income taxes (Form 1040-ES, IT-1040ES, SD-100ES)
9/23/11 Sales Tax
Return for tax collected in August (Monthly filers)
The following are the deposit requirements for
withheld federal income and FICA/Medicare
and employer's share of FICA/Medicare taxes:
1. If total taxes are less than $2,500 per quarter, you may pay the taxes to the Internal Revenue
Service with Form 941, or you may deposit them at your bank by the end of the month
following
the quarter.
2. Most employers will be a "monthly
depositor" or "semi-weekly depositor". Your status will be
determined annually and the IRS will notify employers before each
calendar year what their status
will be.
A monthly depositor must
deposit withholdings on or before the 15th day of the month following
the month of withholding. Generally, a new employer will be a monthly
depositor until it meets
the semi-weekly deposit rules.
A "semi-weekly
depositor" must deposit taxes on a Wednesday or a Friday. For paydays on
Wednesday, Thursday or Friday, the deposit will be due by the Wednesday
following payday.
For all other paydays, the deposit will be due by the Friday following payday. If you
always
deposit your taxes within three banking days after payday, you will always meet the
"semi-weekly"
rule.
* The above dates generally refer to Ohio
employers and taxpayer.
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