Tax Data Series

Corporation Franchise Tax

Corporate Franchise Tax Tables
Refundable and Nonrefundable Tax Credits Claimed, Tax Year 2005

The attached corporate franchise tax table was created as a supplement to the CF1-5 tax data series for tax year 2005. It provides detail on the tax credits claimed by general (non-financial institution) corporate franchise taxpayers.

Both refundable and nonrefundable credits are shown in the table. The job creation tax credit is the only refundable credit in tax year 2005; there were 240 corporate franchise taxpayers claiming this credit, amounting to $36.9 million.

The nonrefundable tax credits shown include the manufacturing investment credit, the Ohio coal credit for electric companies, the credit for taxes paid by pass-through entities, job training credit, research credit, small telephone company credit, and other miscellaneous credits (see the table for a complete list). There were 2,956 nonrefundable credits claimed amounting to $162.6 million.

The data shown on these tables were compiled from returns filed for tax year 2005 with the Ohio Department of Taxation.