Income Tax
The Village of Georgetown has a local income tax on the wages earned by residents of Georgetown, non-residents working in Georgetown, and the net profits of businesses located inside Georgetown. The tax rate is 1% of earned income and net profits. The Village of Georgetown allows a credit for residents who live inside the Village of Georgetown and have local tax withheld form their pay check from another city or village. The Maximum credit is 1% per W-2. The Georgetown income tax does not apply to income received from social security, retirement, pensions, military pay, unemployment interests on savings and certificates of deposits, ADC, and similar non-employee income.
All residents are required to register with the Georgetown Income Tax Bureau even if they have no taxable earnings. The regular office hours of the Income Tax Bureau are from 8:00 a.m. to 4:00 p.m., Mondays and Tuesdays. Forms and tax information/ordinance can be obtained in the Printable PDF links located on this page or from the Georgetown Income Tax Bureau at 121 North Main Street, PO BOX 116, or by phone at (937) 378-6395, ext. 1001.
Annual Interest Rates
The interest rates shall be applied to all unpaid income and withholding tax balances. These rates are being published in accordance with Ohio Revised Code 718.27 (F) which states that “By the thirty-first day of October of each year the municipal corporation shall publish the rate described in division (A) of this section applicable to the next succeeding calendar year.”
Based on these requirements, the applicable interest rate is as follows:
Calendar Year | Annual Rate | Monthly Rate |
|---|---|---|
2026 | 9.0% |
0.75% |
2024 – 2025 | 10.0% |
0.83% |
2023 | 7.0 % | 0.58 % |
2021 – 2022 | 5.0 % | 0.42 % |
2019 – 2020 | 7.0 % | 0.58 % |
2017 – 2018 | 6.0 % | 0.50 % |
2016 | 5.0 % | 0.42 % |
Penalty & Interest
Penalty and interest is charged on all late and unpaid income and withholding tax, late or non-filing of an income tax return and employer annual reconciliation. All penalty and interest is mandated by the State of Ohio. Penalty is applied as stated in the table below.
Penalty | Calendar Year | Amount Assessed |
|---|---|---|
Late File | 2023 and after | One-time $25 |
Late File | 2016 through 2022 | $25 per month, not to exceed $150 |
Late Pay | 2016 and after | One-time 15% |
Late Withholding | 2016 and after | One-time 50% |
Filing Due Dates
Employer’s Municipal Tax Withholding Statements-W1 Form
Semi-Monthly Filers
The 3rd banking day after the 15th of each month and the 3rd banking day after the last day of each month.
Semi-monthly filing and payment MAY BE REQUIRED if an employer has withheld $12,000 or more in the immediately preceding calendar year with respect to a municipality, or more than $1,000 in any month of the immediately preceding quarter with respect to that same municipality.
Monthly Filers
The 15th day of the month following the month required to be withheld.
Monthly filing and payment is required if an employer has withheld with respect to a municipality more than $2,399 in the immediately preceding calendar year, or more than $200 in any one month in the immediately preceding calendar quarter.
Quarterly Filers
The last day of the month following the end of the quarter:
1st Quarter – April 30th, 2nd Quarter – July 31st, 3rd Quarter -October 31st, and 4th Quarter – January 31st.
Quarterly filing and payment is required if an employer has withheld with respect to a municipality $2,399 or less in the immediately preceding calendar year, or $200 or less for each month in the immediately preceding calendar quarter. All employers not required to file monthly or semi-monthly, file quarterly.
Reconciliation of Income Tax Withheld and W2 Transmittal-W3 Form
Annually
On or before the last day of February following the calendar year in which the taxes were withheld.
Net Profit Tax Return-BR Form and Individual Tax Return-IR Form
Annually
The 15th day of the 4th month following the end of the taxpayer’s taxable year.
Net Profit and Individual Estimated Income Tax-Q1 Form
Quarterly
The 15th day of the 4th, 6th, 9th, and 12th months after the beginning of the taxable year.
Net Profit and Individual Estimated Income Tax Extension of Time to File
Extension of time to file is due by the 15th day of the 4th month following the end of the taxpayer’s
taxable year.