FAQs - Corporation Franchise Tax

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What is corporation franchise tax? Who must file and pay the corporation franchise tax?What corporations are not subject to the franchise tax phase-out and remain subject to the franchise tax?What is the franchise tax phase-out? How does the phase-out affect the nonrefundable credit for taxes paid by a qualifying pass-through entity?Is Form FT 1120S (Notice of S Corporation Status) required after tax year 2009?Did the nonrefundable franchise tax credits convert to credits against the commercial activity tax (CAT) after the franchise tax phase-out? How is the corporation franchise tax computed?What is the difference between business and nonbusiness income? What is the minimum fee for corporation franchise tax?When are payments and reports due?What is the exit tax? What is the difference between a "tax year" and "taxable year"?When must a taxpayer pay by electronic funds transfer (EFT)?What is the interest rate for underpayments and over payments of the tax?When are interest and penalty charged and how are they computed? When should federal changes be reported to Ohio?What is the procedure for requesting a refund?How do I register my corporation to do business in Ohio? How do I obtain a Certificate of Good Standing from the Ohio Secretary of State's office? I still have an active charter with the Ohio Secretary of State's office, but have not been in business for years. Am I still required to file the corporation franchise tax reports in Ohio?How do I obtain a D1 Certificate of Good Standing from the Ohio Department of Taxation?How do I dissolve a corporation with Ohio? How do I obtain a Certificate of Dissolution (D2) from the Ohio Department of Taxation? How do I obtain a D3 Certificate of Reinstatement?How do I obtain a D4 Certificate of Operations?
  

 

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