FAQs - Employer Withholding

We are selling or are closing our business. By what date do we need to file our final return and pay any withholding tax liability?

Ohio Revised Code section 5747.07(H) provides that if an employer sells their business or stock of merchandise or quits business, that all withheld taxes, including applicable interest and penalties, must be paid within 15 days after the date of selling or quitting business. The employer also must file a final Ohio IT 941 and IT 3 within the same 15 day period.

If you are closing your business, you must complete the Business Account Update Form (BA UF) and return it to us by fax or by mail.