Ohio Ohio Estimated Income Tax Payment Coupon for Investors in Pass-Through Entities (OBSOLETE)

Ohio Estimated Income Tax Payment Coupon for Investors in Pass-Through Entities (OBSOLETE)
PTE_IT4708ES_Arrow_2016_FS_073115.indd
2016 Ohio IT 4708ES
Ohio Estimated Income
Tax Payment Coupon
for Investors in
Pass-Through Entities

 Please cut on the dotted line. – DO NOT USE PENCIL to complete this form.

OHIO IT 4708ES

Rev. 7/15

Ohio Estimated Income Tax Payment Coupon
for Investors in Pass-Through Entities
Federal Employer I.D Number

For Taxable Year Ending In

2016

For Payment Period (Check Only One)
1st Qtr

3rd Qtr

4th Qtr

Do NOT fold
check or coupon.

Name

Payment
Amount
Address

City, state, ZIP code

2nd Qtr

$

,

,

.0 0

DO NOT STAPLE OR OTHERWISE ATTACH YOUR CHECK OR CHECK
STUB TO THIS COUPON. DO NOT SEND CASH. Return this coupon with
check or money order made payable to OHIO TREASURER OF STATE and
mail to OHIO DEPARTMENT OF TAXATION, P.O. BOX 181140, COLUMBUS,
OH 43218-1140.

022

IT 4708ES

Rev. 7/15
Ohio IT 4708ES Instructions and Worksheet
Estimated Income Tax Payments for Investors in Pass-Through Entities

of the previous year’s tax after nonrefundable business credits (see
year 2015 Ohio form IT 4708, line 12).

1. Who may use Ohio form IT 4708ES?
Any entity that (i) is treated as a partnership or an S corporation for
federal income tax purposes, (ii) is electing to file a single (composite) annual income tax return on behalf of one, some or all of
its noncorporate investors and (iii) is required to make estimated
payments (may use coupon Ohio form IT 4708ES).

Example: A pass-through entity has a Nov. 30 fiscal year end. For
the fiscal year ending Nov. 30, 2016 the estimates would be due on
April 18, 2016, June 15, 2016, Sept. 15, 2016 and Jan. 17, 2017.
These estimates would be based upon either (i) the tax for the fiscal year ending Nov. 30, 2015 or (ii) income (or annualized income)
for the fiscal year ending Nov. 30, 2016. If the pass-through entity
makes payments based upon the fiscal year ending Nov. 30, 2015,
then the pass-through entity must pay 100% of that year’s tax due
after nonrefundable credits, rather than 90% of this year’s tax due.

Investors included in the annual composite return cannot claim on
that return any personal exemptions or nonbusiness credits and
must pay at the highest rate, 4.997%. See Ohio Revised Code
section 5747.08.
2. When is Ohio form IT 4708ES required to be filed?

All pass-through entities must use payment coupon Ohio form IT
4708ES.

The pass-through entity must file estimated income tax payments
and file Ohio form IT 4708ES if the combined 2016 Ohio taxes after
credits will be more than $500.

Make checks payable to Ohio Treasurer of State and mail to:
Ohio Department of Taxation
P.O. Box 181140
Columbus, OH 43218-1140

3. Payment amount and time and place for filing and payment
Each calendar year pass-through entity and each fiscal year passthrough entity for its fiscal year ending in calendar year 2016 must
pay by April 18, 2016 at least 22.5% of the tax due for the current
year. Subsequent payments are due as follows:
June 15, 2016

45%

of the current year tax due
less previous payments

Sept. 15, 2016

67.5%

of the current year tax due
less previous payments

Jan. 17, 2017

90%

of the current year tax due
less previous payments

4. Interest penalty
If income taxes are underpaid, the pass-through entity must add an
interest penalty to the taxes for the taxable year at the rate per annum prescribed by Ohio Revised Code section 5703.47. See Ohio
form IT/SD 2210 available on our Web site at tax.ohio.gov.
5. Completing Ohio form IT 4708ES
a. Complete the worksheet below to figure the estimated tax for
2016. Alternatively, pay estimated tax equal to the year 2015
tax (see year 2015 Ohio form IT 4708, line 12).

For purposes of this payment schedule, “current year” means either
calendar year 2016 or the fiscal year ending in calendar year 2016.
When computing the estimated tax due for the current year, the
pass-through entity may annualize income to compute the estimated
tax due for each of the first three payment dates.

b. Enter on Ohio form IT 4708ES the amount shown on line 5 of
the worksheet and verify the federal employer identification
number (FEIN). Alternatively, pay estimated tax equal to the
year 2015 tax (see year 2015 Ohio form IT 4708, line 12).
c. Enclose check or money order made payable to the Ohio
Treasurer of State.

In lieu of making estimated tax payments based on 90% of the current year tax (or tax computed on current year annualized income),
the taxpayer can make four estimated tax payments, each for 25%

2016 Ohio Form IT 4708ES Estimated Income Tax Payment Worksheet
for Taxable Year Ending in 2016
1.

Combined 2016 apportioned and allocated distributive shares of income times 90% .................

1.

2.

Tax (multiply line 1 by 4.997%) .....................................................................................................

2.

3.

90% of the sum of distributive shares of nonrefundable business credits ....................................

3.

4.

Tax after nonrefundable credits (line 2 minus line 3). Alternatively, 100% of last year’s tax
after nonrefundable business credits. If line 4 is less than $500, do not make estimated tax
payments ......................................................................................................................................

4.

Multiply the amount on line 4 by 0.25. This is the amount of the quarterly taxes due. If the
composite annual income tax return, Ohio form IT 4708, filed for the taxable year ending in
2015 reflected an overpayment carryforward, that amount should be applied to reduce the
first estimated tax payment. ..........................................................................................................

5.

5.

If you have any questions, please contact our service center (listed on the inside back cover of the instructions for Ohio form
IT 1040 or the last page of Ohio form IT 4708) or call either of the following numbers:
Ohio Toll-Free Tax Questions ............................1-800-282-1780

Ohio Relay Sevice ..............................................1-800-750-0750
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