Financial Institutions Tax

How do I determine my total Ohio equity capital?

Total Ohio equity capital is calculated by applying the apportionment factor to total equity capital. The apportionment factor is the financial institution's gross receipts in Ohio during the taxable year divided by the financial institution's gross receipts everywhere during the taxable year.

Gross receipts are sitused to Ohio in the proportion that the customers' benefit in this state with respect to services received bears to the customers' benefit everywhere with respect to services received.

For tax year 2020 and thereafter, total Ohio equity capital is a financial institution’s total equity capital, limited to 14% of that financial institution’s total assets for the taxable year, apportioned by the gross receipts factor. See Information Release FIT 2020-01 for additional details.