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 1999 of $830.0 million.
The reported liability before credits (including litter tax)
was $894.0 million, but tax credits reduced the net liability
by $64.0 million. A total of 110,279 corporations were
represented on the 1999 returns, with 30,950 corporations
paying the tax based on net income and 30,891paying the tax
based on net worth. The number of corporations paying the $50
minimum tax amounted to 48,438. However, about 84 percent of
the tax liability before credits was based on net income
(compared to 72 percent in 1998) and about 16 percent was
derived from the net worth base (compared to 28 percent in
1998). 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 40 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 37 percent (compared to 38 percent in
1998) 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 1999 with the Ohio Department of Taxation.
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).