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Instructions and worksheet for estimated tax payments for investors in pass-through entities in Ohio.

How to fill out it-4708es

How to fill out IT-4708ES

1. Obtain the IT-4708ES form from the official state tax website or your local tax office.
2. Read the instructions provided with the form carefully to understand the requirements for filling it out.
3. Begin filling out the form with your personal information, including your name, address, and Social Security number.
4. Report your estimated tax payments for the year in the appropriate sections of the form.
5. Make sure to include any applicable deductions or credits that you may qualify for.
6. Double-check all entries for accuracy before submitting the form.
7. Submit the completed form by the deadline to the designated tax authority, either electronically or by mail.

Who needs IT-4708ES?

1. Individuals or entities who owe estimated taxes for the state and need to make payments.
2. Taxpayers who anticipate owing $500 or more in state taxes for the year.
3. Those who wish to avoid underpayment penalties and stay compliant with state tax regulations.

People Also Ask about

Who is required to file an Ohio tax return?

Who Must File? If you're an Ohio resident, part-year resident, or a nonresident with Ohio-sourced income, you are required to file an Ohio income tax return. Ohio-sourced income includes: Wages earned in Ohio.

What is the Ohio tax percentage?

Ohio has a 5.75 percent state sales tax rate and an average combined state and local sales tax rate of 7.24 percent. Ohio has a 1.30 percent effective property tax rate on owner-occupied housing value. Ohio does not have an estate tax or inheritance tax.

Who is exempt from Ohio withholding?

Categories of workers that are exempt from Ohio withholding taxes include agricultural workers, domestic service workers, providers of low-income services, foreign government services, underage paper deliverers, and non-trade services.

Who must file Ohio 4708?

"Qualifying pass-through entities whose equity investors are limited to nonresident individuals, nonresident estates and nonresident trusts can file either Ohio forms IT 1140 or IT 4708. All other qualifying pass-through entities must file Ohio form IT 1140 and may also choose to file Ohio form IT 4708."

Who must file Ohio municipal net profit tax?

Every entity doing business in a CCA municipality as defined by the Rules and Regulations must file a Net Profit Return. Individuals, including sole proprietorships, must file an Individual Tax Return.

Who must file Ohio IT 4708?

"Qualifying pass-through entities whose equity investors are limited to nonresident individuals, nonresident estates and nonresident trusts can file either Ohio forms IT 1140 or IT 4708. All other qualifying pass-through entities must file Ohio form IT 1140 and may also choose to file Ohio form IT 4708."

For pdfFiller’s FAQs

What is IT-4708ES?

IT-4708ES is an estimated tax payment form used by individuals and entities in Ohio to report and pay estimated income tax on income that is not subject to withholding.

Who is required to file IT-4708ES?

Individuals and entities who expect to owe at least $500 in Ohio income tax after deductions, credits, and withholding for the year are required to file IT-4708ES.

How to fill out IT-4708ES?

To fill out IT-4708ES, provide your personal information, such as name and taxpayer identification number. Calculate your estimated income tax based on your expected income and apply any relevant credits. Finally, indicate the payment amount and submit the form.

What is the purpose of IT-4708ES?

The purpose of IT-4708ES is to help taxpayers submit estimated income tax payments throughout the year to avoid penalties and interest for underpayment when filing their annual tax return.

What information must be reported on IT-4708ES?

IT-4708ES requires reporting of taxpayer's identification details, estimated income, applicable deductions, credits, and the calculated estimated tax payment amount.