Corporation Franchise Tax
Corporate Franchise Tax: Number of Corporations
and Reported Tax Liability, by Tax Base and Industry, Tax
The attached tables show a total reported Ohio corporate
franchise tax liability for tax year 1995 of $850.9 million.
The reported liability before credits was $866.8 million, but
tax credits reduced the net liability by $15.8 million. A
total of 115,094 corporations were represented on the 1995
returns, with 28,669 corporations paying the tax based on net
income and 40,136 paying the tax based on net worth. The
number of corporations paying the minimum tax amounted to
46,289. However, about 74 percent of the tax liability before
credits was based on net income (compared to 69 percent in
1994) and about 25 percent was derived from the net worth
base (compared to 31 percent in 1994). The remainder of the
tax was reported as liability under the minimum tax.
Tables CF-1A and 1B show the number of corporations and the
reported total tax liabilities by tax base for each of nine
broad industrial classifications. The largest total tax
liability was reported by manufacturing corporations, which
accounted for about 52 percent of the total.
Tables CF-2A and 2B categorize the corporate returns by the
size of the reported tax liability per return. The number of
corporations and total tax liability are shown for each of
the alternative tax bases for 18 tax liability classes.
Returns reporting over $500,000 in tax liability were
responsible for about 40 percent (compared to 36 percent in
1994) of the total reported liability even though they
covered only 0.2 percent of total corporations.
The data shown on these tables were compiled from returns
filed for tax year 1995 with the Ohio Department of
NOTE: These tables do not include data from the tax returns
of financial institutions. Data from financial institution
returns are shown on a separate table (CF-5).