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The e C IT Y o f SPR ING BO RO Ohio CIT Y COU NC IL MI NUT ES MAY 7, 2 0 09 CITY OF SPRINGBOARD 425 S. PIONEER BOULEVARD, SPRINGBOARD, OH CITY COUNCIL WORK SESSION THURSDAY, MAY 7, 2009 6:00 PM COUNCIL

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What is the c it?

The c it stands for Corporate Income Tax. It is a tax imposed on the net income of corporations.

Who is required to file the c it?

All corporations that generate income are required to file the c it.

How to fill out the c it?

To fill out the c it, corporations need to gather financial information, calculate their income, deductions, and credits, and then complete the appropriate tax forms.

What is the purpose of the c it?

The purpose of the c it is to collect tax revenue from corporations based on their net income, which helps fund government services and programs.

What information must be reported on the c it?

Corporations must report their revenue, expenses, deductions, credits, and any other relevant financial information on the c it.

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