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Form FT 1120FI - tax ohio

Form FT 1120FI - tax ohio 2025

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The document is the Ohio Corporation Franchise Tax Report for Financial Institutions (Form FT 1120FI) for the tax year 2004. It outlines the requirements for financial institutions to report their franchise tax, including details on net worth, apportionment ratios, and various schedules for calculating taxable values and credits. The form must be completed by corporate officers and includes declarations regarding political contributions. It also specifies minimum fee thresholds based on gross receipts and employee counts.

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Click ‘Get Form’ to open Form FT 1120FI in the editor.
Begin by entering the tax year at the top of the form. Ensure that you specify whether this is an amended report by checking the appropriate box.
Fill in your corporation's name, address, and Ohio franchise tax I.D. number. If your mailing address has changed, check the box provided.
Complete the Corporate Officers section by listing the names and titles of your officers, ensuring accuracy with previous reports if applicable.
Proceed to Schedule A for Computation of Franchise Tax. Input values from relevant schedules as instructed, including net value of stock and apportionment ratio.
Calculate total nonrefundable credits and determine any balance due or overpayment based on your entries in previous sections.
Finally, ensure that an authorized officer signs and dates the declaration at the bottom of the form before submission.

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We have answers to the most popular questions from our customers. If you can't find an answer to your question, please contact us.

How do I withhold my employer school district tax in Ohio?

Employers are required to withhold school district income tax from compensation for any employee who resides in a taxing school district. This requirement is based on an employees address of residence and applies even if the employer conducts no business or operations in the school district.

Does an LLC pay taxes in Ohio?

Under the Check-the-Box Regulations LLCs are treated as pass-through entities, which means that the partners (or sole owner) just pay taxes on their individual tax return(s), unless an affirmative election to be taxed as a corporation or an S Corporation is filed with the IRS.

Does Ohio have an S Corp tax return?

Ohio does not impose a corporate income tax on S corps, but they must pay the Commercial Activity Tax (CAT). S corps in Ohio avoid double taxation by passing income to shareholders, who pay personal income tax. To elect S corp status in Ohio, you must form a corporation or LLC and file IRS Form 2553.

What tax forms do I need to file in Ohio?

Top Individual Forms IT 1040/SD 100 Instructions. Tax Year: 2024. IT 1040 Tax Return. Tax Year: 2024. Payment - OUPC (IT) Tax Year: 2024. Payment - OUPC (IT Estimated) Tax Year: 2025. SD 100 Tax Return. Tax Year: 2024. Payment - OUPC (SD) Tax Year: 2024. Payment - OUPC (SD Estimated) Tax Year: 2025. IT 10. Tax Year: 2024.

Does Ohio have corporate tax?

Ohio does not have a corporate income tax but does levy a state gross receipts tax.

What taxes does LLC pay in Ohio?

How Your LLC Will Be Taxed Owners pay self-employment tax on business profits. Owners pay state tax on any profits, less state allowances or deductions. Owners pay federal income tax on any profits, less federal allowances or deductions. Some LLCs pay Ohio sales tax on products.

Does Ohio have a franchise tax?

Ohio imposes an annual privilege tax (also known as a franchise tax) on some businesses. In Ohio, this franchise tax is called a commercial activity tax (CAT).

Does Ohio have a corporate franchise tax?

Ohio does not have a corporate income tax but does levy a state gross receipts tax. Ohio has a 5.75 percent state sales tax rate and an average combined state and local sales tax rate of 7.24 percent. Ohio has a 1.30 percent effective property tax rate on owner-occupied housing value.

Form FT 1120FI - tax ohio 2025

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Complete this form in 5 minutes or less

Got questions?

How do I withhold my employer school district tax in Ohio?

Does an LLC pay taxes in Ohio?

Does Ohio have an S Corp tax return?

What tax forms do I need to file in Ohio?

Does Ohio have corporate tax?

People also ask

What taxes does LLC pay in Ohio?

Does Ohio have a franchise tax?

Does Ohio have a corporate franchise tax?

Try more PDF tools

Form FT 1120FI - tax ohio 2025

Here's how it works

How to use or fill out Form FT 1120FI - tax ohio with our platform

Complete this form in 5 minutes or less

Got questions?

How do I withhold my employer school district tax in Ohio?

Does an LLC pay taxes in Ohio?

Does Ohio have an S Corp tax return?

What tax forms do I need to file in Ohio?

Does Ohio have corporate tax?

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People also ask

What taxes does LLC pay in Ohio?

Does Ohio have a franchise tax?

Does Ohio have a corporate franchise tax?

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