Mason has one of the lowest income tax rates in the tri-state area. Locating your business in Mason is a smart move.
Revenue from income taxes is used to support many of the services that contribute to the quality of life in Mason. Your local taxes are used to support your business and employees through attractive streetscaping, nationally accredited police services, road construction and maintenance, fire and EMS services for property and employees, snow and ice control, park maintenance, economic development support for businesses, and more.
The local tax rate is 1.12% of qualifying wages or profits from businesses. The amount over 1% is reviewed annually and adjusted as necessary to provide sufficient funding to maintain quality safety, fire, and EMS services. It cannot exceed 1.15% without voter approval. Taxable amounts include net profit of partnerships, corporations, and other entities that conduct business within the City of Mason. Net profit is the income from the operation of a business, profession, or enterprise, and rentals from the use of property, after the provision for all ordinary and necessary expenses, in accordance with the accounting system used by the taxpayer for Federal Income Tax purposes and adjusted to the requirements of the City of Mason Tax Ordinance.
All businesses that operate within the City of Mason are required to file a tax return, even if a loss is being reported and no tax is due. Ninety percent of your business tax liability is due by December 15 for the prior tax year (or by the 15th of the twelfth month of the fiscal year). However, payments may be spread throughout the tax year.
Wages, salaries, and other compensation provided to your employees working in the city are subject to the income tax and must have their city taxes withheld. Statements of withholding and amounts withheld are payable to the city on a monthly or quarterly basis, depending on the amount. Electronic payments can be made through the ACH Credit Electronic Filing Program or the Ohio Business Gateway.