Businesses

Tax Rates and Due Dates

  • Tax Rate: 2.50%
  • Due Dates: Calendar Year end returns are due on April 15
  • Fiscal Year returns are due on the 15th day of the 4th month after the end of the fiscal year
  • The interest rate is calculated based on the federal short-term rate plus 5%. The rates are as follows:
    • Calendar Year 2018: 6% per year or 0.50% per month
    • Calendar Year 2019: 7% per year or 0.58% per month

Entity Filing Requirements

Every business entity conducting activities or producing income with the City of Oakwood, whether or not the entity has a place of business in the City of Oakwood and whether or not a tax is due, must file a return reporting the net profit or loss attributable to Oakwood.

LLC’s filing as sole-proprietors for federal income tax purposes must file an individual tax return.

If you have any questions or need additional information, you may contact the Income Tax Department at (937) 298-0531 weekdays from 8:00 a.m. to 5:00 p.m.

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