FAQs - Pass Through Entity

Is a PTE subject to filing the Ohio form IT 1140 if all of its nonresident equity investors file Ohio form IT 1040 returns?

Yes. The current law does not provide any exemption for the PTE even if each investor is currently filing the Ohio form IT 1040. Note, however, that the law does provide such an exemption with respect to corporations that are not considered qualifying investors (see item #12 on page 4 of the 2012 general instructions for Ohio form IT 1140).

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