Yes, all residents conducting a business or non-residents conducting a business within the city must file an annual return and report the net profits or net losses of said business. Yes, you should file your return by the due date whether or not you are able to pay the entire amount of tax that you owe. You will receive a bill for the unpaid taxes along with late payment penalty and interest charges. I'm a partner in a partnership and a Columbus resident. I'm serving in a fiduciary capacity.
Tax is due on the net profits reported as having been earned in the city.
Since the tax is paid at the entity level of the trust or estate, beneficiaries are not required to pay city tax on income derived from trusts or estates.