Deadline for Local Business Tax Filing Moved to April 17
Friday March 2, 2007
Change for filing 2006 Occupational Net Profit (OL-3) tax coincides with Internal Revenue Service deadline
April 17 is now the deadline for Louisville businesses and self-employed individuals to file their 2006 occupational net profit (OL-3) tax returns or to file an extension request. The Louisville Metro Revenue Commission has changed its filing deadline to coincide with the deadline for federal and state income taxes.
“We want to make filing as convenient as possible,” said Mike Tronzo, director of the Revenue Commission. “We didn’t want folks to inadvertently find themselves in a delinquency situation.”
The local deadline change comes after the Internal Revenue Service changed its deadline to April 17. The IRS moved its traditional deadline because April 15, 2007 falls on Sunday, and because Monday, April 16, 2007 is being observed as a holiday in the District of Columbia. As a result, the IRS determined its “next business day” to be April 17.
The Kentucky Revenue Cabinet similarly has adjusted its filing deadline for state taxes to coincide with the IRS.
Any business or company that does business in Louisville Metro, regardless of size, must file an OL-3 return for the tax applied to business net profits. The tax also applies to people who run their own business, do freelance work or otherwise work “on the side.”
The tax generated $72.5 million in revenue last fiscal year – money that supports police and fire protection, roads, parks, garbage pickup and other Metro Government priorities. A percentage of the revenue also helps support the Jefferson County Public Schools and TARC.
OL-3 forms are available on the Revenue Commission’s webpage at www.LouisvilleKy.gov/Revenue.