FAQ Topic: Income Tax

What is Oakwood’s credit limit?

For tax years 2017 and prior, the City gives 100% credit for taxes paid to other jurisdictions. For tax years 2018 and forward the credit will be limited to 90%.  The tax paid to other cities will now be multiplied by 0.90 in order to calculate the allowable credit. If you have any questions regarding … Continued

Does Oakwood have a mandatory filing requirement?

Yes.  The city of Oakwood has a mandatory filing requirement for all residents.  Every individual, 18 years of age or older, who resides in Oakwood, must file an Oakwood City income tax return, whether or not any tax is due.  Retired residents who have income derived exclusively from non-taxable sources (interest, dividend, social security and/or … Continued

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