Frequently Asked Questions

The Ohio Department of Taxation has compiled a list of frequently asked questions covering many different categories.

To view the questions, click on the "Select Category" bar and then click on the category you are interested in. A list of questions will appear pertaining to that category. Then click on the question you are inquiring about and the answer will appear.

Why does a small company under the $10,000 exemption have to pay a leasing company personal property taxes?

The leasing company is the owner of the equipment, which requires them to report that equipment for taxation on their return. Contractual language in the lease agreement between the lessor (leasing company) and the lessee (company leasing the equipment) can require the lessee to reimburse the lessor for personal property taxes levied on the equipment being leased. If the $10,000 exemption cannot be applied to the taxing district where this particular equipment is located, the small company must reimburse the leasing company for the personal property taxes according to the terms of their signed lease agreement, even though the small company would not be required to file a personal property tax return themselves.