What corporations are not subject to the franchise tax phase-out and remain subject to the franchise tax?
The following corporations remain subject to the franchise tax after the phase-out: (i) financial holding companies; (ii) bank holding companies; (iii) savings and loan holding companies; (iv) corporations directly or indirectly owned by one or more corporations described in (i) through (iii) when such subsidiary corporations are engaged in activities permissible for a financial holding company, (v) corporations directly or indirectly owned by one or more financial institutions that pay the franchise tax charged by R.C. 5733.06(D) when such subsidiary corporations are engaged in activities permissible for a financial holding company and such corporations are not already described in (iv) above, (vi) corporations directly or indirectly owned by one or more insurance companies when such subsidiary corporations are engaged in insurance-type activities, and (vii) "securitization " companies described in R.C. 5751.01(E)(10). See R.C. 5733.01(G) and 5751.01(E).
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