June 9 begins the new season of entertainment at Veteran’s Park. To check out the full schedule of events click here.
For more information about the 0.4% income tax increase and how it will affect your reporting for 2017, please visit the Income Tax Page. If you have further questions, please call the Income Tax Division at 324-7357.
No, the credit for tax paid to other cities remains the same. You will still receive credit for one half of the tax correctly paid to the other city, with a maximum of 1%. So, if you work in a city with a tax rate of less than 2%, you will receive credit for one half of what you paid to that city. If the other city has a tax rate of 2% or more, you will receive a credit of 1%. For income earned through June 30, 2017, you will owe the difference up to 2% to Springfield, For income earned July 1, 2017, you will owe the difference up to 2.4% to Springfield.
You will need to amend your 2017 declaration of estimated tax and increase the tax due on Quarters 3 and 4 to 2.4%. Overall, your estimated payments should be 2.2% of your estimated income.
You will file your 2017 Springfield Income Tax Return using a blended rate of 2.2% for your total taxable income. This is half the year at 2% and half the year at 2.4%.