Frequently Asked Questions

The Ohio Department of Taxation has compiled a list of frequently asked questions covering many different categories.

To view the questions, click on the "Select Category" bar and then click on the category you are interested in.  A list of questions will appear pertaining to that category. Then click on the question you are inquiring about and the answer will appear.

When should federal changes be reported to Ohio?

Taxpayers must file an amended corporation franchise tax report if the taxpayer or the Internal Revenue Service recomputes the taxpayer’s federal taxable income or the taxpayer’s federal income tax liability. An amended corporation franchise tax report (check the amended return box at the top of page 1 of form FT 1120 or FT 1120FI) must be filed by the earliest of the following dates:

  • One year after final determination of the adjustment for federal income tax purposes; or
  • One year after the taxpayer paid the additional federal income tax as a result of the adjustment (whether or not the adjustment was agreed to); or
  • One year after the taxpayer received a federal income tax refund as a result of the adjustment.

The above provision applies even if the three-year statute of limitations has passed and applies to amended reports which reflect overpayments as well as amended reports which reflect underpayments. If the amended report reflects an underpayment, the amended report must be accompanied by payment of any additional tax and interest. If the amended report reflects an overpayment, the amended report must be accompanied by form FT REF, Application for Refund, or a letter that requests the refund and explains the adjustments.

Upon completing an amended report, please check the amended report box on the front of the report. Please do not send an amended report to PO Box 27 (the address on the form). Please send the amended report along with the payment and/or the appropriate attachments to:

Ohio Department of Taxation, Corporation Franchise Tax Unit, PO Box 2476, Columbus, OH  43216-2476

Please note that taxpayers may not apply an overpayment reflected on an amended report to another year.

Amounts reported on federal form 1120 or 1120A, as well as Ohio adjustments and allocations, are subject to verification and audit by the Ohio Department of Taxation.

To download Ohio corporation franchise tax forms, visit our Tax Forms home page.