Corporation Franchise Tax
Corporate Franchise Tax: Number of Corporations
and Reported Tax Liability, by Tax Base and Industry, Tax
These corporate franchise tax tables show a total reported
Ohio corporate franchise tax liability for tax year 1994 of
$701.6 million. The reported liability before credits was
$721.9 million, but tax credits reduced the net liability by
$20.3 million. A total of 113,877 corporations were
represented on the 1994 returns, with 26,169 corporations
paying the tax based on net income and 41,738 paying the tax
based on net worth. The number of corporations paying the
minimum tax amounted to 45,970. However, about 69 percent of
the tax liability before credits was based on net income
(compared to 64 percent in 1993) and about 31 percent was
derived from the net worth base (compared to 36 percent in
1993). The remainder of the tax was reported as liability
under the minimum tax.
Specifically, 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 47 percent of the
And, 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 36 percent (compared to 34 percent in
1993) 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 1994 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).