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To be completed prior to the transfer of title to the Income Tenant. The final transfer documentation will be supplied after closing (see Section V). I. AHA Housing Credit HOME MultiFamily Bond Project
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Chapter 175 of the Ohio Revised Code pertains to the reporting requirements for municipal income tax returns and outlines how individuals and businesses must report their income earned within the municipalities of Ohio.
Individuals and businesses that earn income within Ohio municipalities are required to file Chapter 175. This includes residents and non-residents with earnings subject to municipal income tax.
To fill out Chapter 175, taxpayers must complete the appropriate municipal income tax return forms, typically available through local tax authorities, and provide required financial information, including total income, deductions, and credits.
The purpose of Chapter 175 is to ensure municipalities have a framework for collecting income taxes from individuals and businesses, allowing for proper funding of local services and infrastructure.
Taxpayers must report personal identification information, total income earned, allowable deductions, credits claimed, and the total tax owed or refund due on Chapter 175.
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