Tax Data Series

Corporation Franchise Tax

Corporate Franchise Tax Tables: Refundable and Nonrefundable Tax Credits Claimed, Tax Year 2008

The CF-Credits table is a supplement to the CF1-5 tax data series.  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, as is the manufacturing grant. Values are shown on both a pre phase-out factor and a post phase-out factor basis.

The nonrefundable tax credits shown include the coal credit for electric companies, the job training credit, the research credit, the small telephone company credit, and other miscellaneous credits (see the table for a complete list).  There were 434 nonrefundable credits claimed amounting to $15.4 million (after the phase-out factor). 

The job creation tax credit was the only prominent refundable credit in tax year 2008; there were 203 corporate franchise taxpayers claiming this credit, amounting to $38.8 million. 

Lastly, there were 1,237 corporate franchise taxpayers claiming the nonrefundable manufacturing grant amounting to $21.2 million.

The data shown on these tables were compiled from returns filed for tax year 2008 with the Ohio Department of Taxation.