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Form FT 1120 Fillable Ohio Corporation Franchise Tax Report
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1 Additions: 2 Deductions: Amended report If the amended report reflects an overpayment attach Ohio form FT REF and see general instruction #26 application Check the box and fi Combined report Attach Ohio forms FT 1120C and FT OTAS to the Ohio franchise tax report of the lead taxpayer shown in column If the corporation is no longer subject to the franchise tax because of the phase out and the corporation is entitled to the refundable Note: If the taxpayer is a member of a combined franchise group complete Schedule B 3 (Combined) on Ohio form FT 1120C Qualifying holding company Attach Ohio form FT QHC Schedule B 2 Foreign Source Income Deduction R C 5733 04(I)(2) Schedule B Adjustments to Federal Taxable Income R C 5733 04(I) The taxpayer is a member of an Ohio combined report Please list lead taxpayer s This corporation is not subject to the tax and is claiming (i) refundable historic This report is an amended report This report is an income based exit report (see general instruction #7) This taxpayer is a qualifying holding company (see general instruction #22) Yes No Yes No If yes please identify the REIT by name address and FEIN $1 000 1 If the sum of the taxpayer s gross receipts from activities within and without Ohio during the taxable $50 If both the taxpayer s gross receipts and number of employees are less than the thresholds above (: 2) Unchecked (: 2) Unchecked (: 2) Unchecked (: 2) Unchecked (: Yes) Unchecked (: Yes) Unchecked (: Yes) Unchecked (: Yes) Unchecked (a) Civil defense shelters 4a 00 (a) Owned (average cost) (b) Land in Ohio devoted exclusively to agriculture 4b 00 (b) Reimbursed expenses for personal services performed for (c) Line 4a minus line 4b (c) Total exempted assets 4c (c) Total property (carry to six (carry to six(b) Rented (annual rental x 8) (checkbox) Unchecked (checkbox) Unchecked (checkbox) Unchecked (checkbox) Unchecked (checkbox) Unchecked (ii) 5/6 of the qualifying section 179 depreciation expense 2 deductible in (Reset 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please print) 1 Credit for qualifying affiliated groups (due to related entity and related member 1 Enter in column (a) of this schedule and include on Schedule B line 1(e) 1 Federal taxable income (from IRS form 1120 line 28) Consolidated federal filers see instructions 1 1 For purposes of the 5/6 add back for bonus depreciation and section 1 I R C section 78 and 951 income 1 1 Net worth (assets minus liabilities) 1 1 Property 1 Refundable jobs creation credit 122 17 1 1 Related entity gains (losses) from sale of investments in stock or debt R C 5733 04(I)(12)(a) 1 1(e) and 2(i) 10 Enter in column (a) 1/5 of the amount entered on Schedule B 4 line 1 of the 10 Enterprise zone day care and training credits 5709 65 10 10 Related entity and related member adjustments (from Schedule B 3 or Schedule B 3 (Combined) 10 10 Related entity gains (losses) allocable to Ohio 10 11 Add excess related entity loss (if loss deducted in all states exceeds total loss) R C 5733 054(B) 11 11 If on the 2010 report the taxpayer entered an amount on Schedule B 4 line 11 Ohio taxable income before net operating loss deduction (add lines 7 8 9 and 10) 11 11 Research and development loan repayment credit (attach credit certifi cate) 5733 352 11 12 Credit for taxes paid by a qualifying pass through entity 5733 0611 12 12 Excess related entity gain (if gain taxed by all states exceeds total gain) R C 5733 054(A) 12 12 If on the 2010 report the taxpayer entered an amount on Schedule B 4 line 12 Ohio net operating loss deduction (attach schedule showing computation) R C 5733 04(I)(1) 12 13 Enter in column (a) 1/5 the amount entered on Schedule B 4 line 1 of the 13 Ohio taxable income (line 11 minus line 12) 13 13 Related members net interest income and net intangible income taxed by other states R C 13 Total nonrefundable credits Enter here and on Schedule A line 19 13 14 If on the 2009 report the taxpayer entered an amount on Schedule B 4 line 14 Related entity and related member adjustment (add lines 9 10 11 12 and 13) Enter here and on 14 Tax on net income basis (from Schedule G line (c)) 14 15 If on the 2009 report the taxpayer entered an amount on Schedule B 4 line 15 Net value of stock (from Schedule F line 5) 15 16 Enter in column (a) 1/5 the amount entered on Schedule B 4 line 1 of the 16 Tax on net worth basis (from Schedule G line (d)) not to exceed $150 000 16 168(k) bonus depreciation amount included on Schedule B 4 line 1 of the 168(k) bonus depreciation amount included on Schedule B 4 line 1 of the 168(k) bonus depreciation amount included on Schedule B 4 line 1 of the 168(k) bonus depreciation expense and (ii) I R C section 179 17 If on the 2008 report the taxpayer entered an amount on Schedule B 4 17 Tax due before credits and payments (greater of lines 14 or 16 but not less than the minimum fee see page 6) 17 179 expense amounts deductible in determining federal taxable 179 expenses the taxpayer s bonus depreciation and section 18 If on the 2008 report the taxpayer entered an amount on Schedule B 4 18 Tier one litter tax (from Schedule G line (j)) 18 19 Add lines 4 7 10 13 and 16 Enter the sum here and include the sum on 19 Total nonrefundable credits (from Schedule A 1 line 13) 19 2 Credit for recycling and litter prevention donations 5733 064 2 2 enter in column (b) 1/5 of that amount 2 enter in column (b) 1/5 of that amount 2 Enter in column (b) the portion of the amount on line 1 that is related to 2 Foreign dividends x 100% = 2 2 If the total number of the taxpayer s employees within and without Ohio during the taxable year equals 2 Is this corporation a member of a consolidated U S 1120? Yes No If yes enter the name and FEIN of the common parent: 2 Nonbusiness income (attach explanation) 2 2 2 of the FT 1120C and show the lead taxpayer s Ohio franchise tax I D number on the line next to the check box 2 Ohio Schedule B adjustments (from Schedule B line 3) Combined franchise filers skip to line 6 2 2 Payroll 2 Qualifying amount (if the taxpayer is a related member to a qualifying holding company) 2 Qualifying section 179 depreciation expense means the difference 2 Refundable credit for tax withheld by the Ohio Lottery Commission 5733 98(A)(33) 2 2 Related entity gains (losses) from sale of other intangible property R C 5733 04(I)(12)(b) 2 20 Add lines 5 8 11 14 and 17 20 Amount due after nonrefundable credits (the sum of lines 17 and 18 minus line 19 but not less than minimum fee) 20 2008 1/5 1/5 1/5 1/5 1/5 5/5 2008 franchise tax report and (ii) the qualifying section 179 depreciation 2008 franchise tax report That is enter 1/5 of the sum of (i) the I R C section 2009 1/5 1/5 1/5 1/5 1/5 5/5 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 Total 2009 franchise tax report and (ii) the qualifying section 179 depreciation 2009 franchise tax report That is enter 1/5 the sum of (i) the I R C section 2010 1/5 1/5 1/5 1/5 1/5 5/5 2010 franchise tax report and (ii) the qualifying section 179 depreciation 2010 franchise tax report That is enter 1/5 the sum of (i) the I R C section 2011 1/5 1/5 1/5 1/5 1/5 5/5 2011 franchise tax report and (ii) the qualifying section 179 depreciation 2011 franchise tax report That is enter 1/5 the sum of (i) the I R C section 2012 1/5 1/5 1/5 1/5 1/5 5/5 2012 franchise tax report and (ii) the qualifying section 179 depreciation 2012 franchise tax report That is enter 1/5 the sum of (i) the I R C section 2013 1/5 1/5 1/5 1/5 1/5 5/5 2013 Corporation Franchise Tax Report 2013 FT 1120 21 7 5% 13 5% grant for purchases of new manufacturing M&E (must attach grant request form) 21 21 Subtract line 20 from line 2 If the result is negative put in parentheses 22 Add lines 6 9 12 15 and 18 22 Tax after (i) nonrefundable credits and (ii) R C 122 173 grant but not less than minimum fee (line 20 minus line 21) 22 23 2012 overpayment carryforward 23 Subtract line 22 from line 3 If the result is negative put in parentheses Enter 24 Refundable credits (from Schedule A 2 line 5 and attach applicable credit certifi cate) 24 25 Total payments and refundable credits (add lines 23 and 24) 25 26 Tax due (line 22 minus line 25) 26 27 Interest 28 Balance due (make check payable to Ohio Treasurer of State) 28 29 Overpayment Because of the franchise tax phase out all overpayments will be refunded If this is an 3 Adjusted net worth (add lines 1 and 2) 3 3 Base income (line 1 plus line 2) 3 3 Credit for maintaining railroad crossing warning devices 5733 43 3 3 enter in column (c) 1/5 of that amount 3 enter in column (c) 1/5 of that amount 3 Enter in column (c) the portion of the amount on line 1 that is related to 3 Foreign royalties x 90% = 3 3 Is the corporation currently under audit by the IRS? Yes No If yes what years? 3 Net adjustments: 3 Refundable Ohio historic preservation credit 149 311 3 3 Sales 3 Total everywhere (if negative put in parentheses; enter here and on 3 Total related entity gains (losses) Add lines 1 and 2 3 3599 03 and 3599 031 directly or indirectly paid used or offered consented or 4 (a) Income from technical and other services 4 Allocable income everywhere (from Schedule C line 3) 4 4 Allocable portion of line 3 4 4 During the taxable year did this corporation make payments to or receive payments from a related member as defined in R C 4 Enter in column (a) 1/5 of the amount entered on Schedule B 4 line 1 of the 4 Exempted assets (net book value) 4 Job retention credit (attach credit certifi cate) 5733 0610(B) 4 4 Refundable motion picture credit 122 85 5733 59 4 4 Total apportionment ratio (add weighted factor column (d) lines 1c 2 and 3) Enter here and on Schedule A 4 Total apportionment ratio (add weighted factor column (d) lines 1e 2c and 3c) Enter here and on 4 Total Ohio (if negative put in parentheses; enter here and on 5 Apportionable income (line 3 minus line 4) 5 5 Apportionable related entity gains (losses) Subtract line 4 from line 3 5 5 Credit for qualified research expenses 5733 351 5 5 During 2011 or 2012 was this corporation the survivor of a merger with another corporation that was subject to the Ohio franchise tax? 5 Foreign source income deduction (add lines 1 2 3 and 4c) Enter here and on Schedule B line 2a 5 5 If on the 2012 report the taxpayer entered an amount on Schedule B 4 line 5 Net value of stock (line 3 minus line 4c) Enter here and on Schedule A line 15 5 5 Total refundable credits Enter here and on Schedule A line 24 5 5733 042 6 5733 042? Yes No 5733 055 (Enter the lesser of (i) such income taxed by other states or (ii) the product of line 6 6 Credit for eligible new employees in an enterprise zone 5709 66 6 6 If on the 2012 report the taxpayer entered an amount on Schedule B 4 line 6 If you entered any nonbusiness income on page 1 line 4 indicate the state(s) to which you reported such income as business income 6 Interest expense and intangible expense paid to related members R C 5733 04(I)(13) and 6 Ohio apportionment ratio (from Schedule D or D 2 line 4 see note above) 6 6 Ohio separate company apportionment ratio from Schedule D line 4 (even if a member of a combined report) 6 7 Add lines 5 and 6 7 7 Apportioned income (line 5 multiplied by line 6 or from Ohio form FT 1120C Schedule B (Combined) line 7) 7 7 Enter in column (a) 1/5 of the amount entered on Schedule B 4 line 1 of the 7 Ethanol plant investment credit 5733 46 7 7 Is the taxpayer a related member to a real estate investment trust (REIT) or is a REIT a related member to the taxpayer? 7 Taxable value (multiply line 5 by line 6) Enter here and on Schedule G lines (d) and (i) 7 8 Allocable income within Ohio (from Schedule C line 4) 8 8 Credit for grape production property 5733 32 8 8 During the taxable year did the taxpayer have a direct or indirect equity interest of 20% or more in any pass through entity? 8 If on the 2011 report the taxpayer entered an amount on Schedule B 4 line 8 Ohio apportionment ratio (Schedule D line 4) 8 9 Apportioned income (multiply line 7 by line 8) 9 9 During the taxable year or any of the three preceding taxable years did the taxpayer directly or indirectly participate in any tax shelter 9 If on the 2011 report the taxpayer entered an amount on Schedule B 4 line 9 Income (loss) from transferor corporation R C 5733 053 9 9 Technology investment credit (attach credit certificate from Technology and Enterprise a) First $50 000 of Ohio taxable income (see note above) a) From Schedule D line 2 a) From Schedule D line 3 a) Net income from foreign sources (Schedule B 2 line 5) 2a a) Owned (from Sched D line 1a) a) Valuation limitation on losses from capital or 1231 assets (Ohio form FT 1120VL) 1a action committee legislation campaign fund or organization that supports or opposes Addback Address Address (if address change check box) adjustments 1e adjustments) 5733 068 1 Advisory Board) 5733 35 9 agreed to pay or use any of its money or property for or in aid of or opposition to a Allocable Allocable amended report attach Ohio form FT REF 29 and belief is a true correct and complete return and report and that this corporation and ending and qualifying section 179 amounts added back on a previous year s tax report and the number of corporations that are included in the consolidated U S group any miscellaneous federal adjustments (if applicable) with respect any such candidate or in any manner used any of its money for any partisan political applies to both the franchise tax and the litter tax as members of a combined report must share one $0 to $50 000 Attach to this franchise tax report a balance sheet (e g IRS form 1120 Schedule L) that reflects the books of the taxpayer on a separate b) Adjustments b) Adjustments b) Losses from sale of Ohio public obligations 1b b) Ohio taxable income greater than $50 000 (see note above) b) Valuation limitation on gains from capital or 1231 assets (Ohio form FT 1120VL) 2b Based upon calendar year 2012 or other taxable year beginning between (i) the amount of depreciation expense directly or Bonus Depreciation and Section 179 Adjustment business income See instructions C (Combined) line 1 c) Amount claimed as a credit for taxes paid by a qualifying pass through entity 1c c) Dividends received (Internal Revenue Code section [I R C ] 243 and R C 5733 04(I)(7) and (I)(8)) 2c c) Rented (from Sched D line 1b) c) Tax on net income basis (Add lines (a) and (b) ) Enter here and on Schedule A line 14 c c) Total adjusted payroll c) Total adjusted sales Caution: Most corporations are not subject to the 2013 franchise tax Caution: The taxpayer s nonrefundable credits and the grant for purchases of new manufacturing Check the appropriate box(es) below and see the instructions on page 6 of this form if: Check the box if all the corporate officers reported below are the same as were Check the box if both the statutory agent and address reported below are the City state ZIP code Code (R C ) Commission the corporation can obtain a refund by (i) completing the taxpayer identification information and checking the sixth box in company basis as of the beginning and the end of the taxable year company basis even if the taxpayer Total Weightedis a member of a combined report Within Ohio Everywhere Ratio Weight Factor Computation of Total Tax Compute Schedule D 2 on a separate (a) (b) (c) (d) Compute Schedule D on a separate (a) (b) (c) (d) Continued on next page Corporate Offi cers Corporation name Corporation name Franchise tax I D # Corporation name Franchise tax I D # Tax year FT 1120 Corporation name Franchise tax I D # Tax year FT 1120 Corporation name Franchise tax I D # Tax year FT 1120 corporation remains subject to the franchise tax after the phase out and the taxpayer is claiming any of these refundable credits Credits must be claimed in the order listed R C 5733 98 d) Adjustment for targeted jobs tax credit or work opportunity tax credit 2d d) Adjustments d) Net loss from an exempted investment in a public utility 1d d) Taxable value (from Schedule F line 7) Enter product here and on Date Signature of officer or managing agent Title Date Signature of preparer other than taxpayer based on all information of which Title dated Nov 7 2002 and July 31 2002 revised June 2004 available on our decimal places) Declaration and signatures (an officer or managing agent of the corporation must sign this declaration) deductible in determining federal taxable income for the taxable year1 and Deduction depreciation expense directly or indirectly allowed the taxpayer depreciation expense See the instructions for Schedule B lines determining federal taxable income for the taxable year However if the Does the corporation currently have IRS audits under appeal? Yes No If yes what years? E mail address e) Depreciation expense adjustment from Schedule B 4 line 1 and miscellaneous federal tax e) Greater of lines (c) or (d) but not less than the minimum fee Enter here and on Schedule A line 17 e e) Net interest income from exempt U S obligations 2e e) Total adjusted property Endnotes for Schedule B 4 Bonus Depreciation and Section 179 Adjustment Enter here and in the Ohio column of Schedule C line 1 Everywhere expense amount included on Schedule B 4 line 1 of the 2008 franchise expense amount included on Schedule B 4 line 1 of the 2009 franchise expense amount included on Schedule B 4 line 1 of the 2010 franchise expense amount included on Schedule B 4 line 1 of the 2011 franchise expense amount included on Schedule B 4 line 1 of the 2012 franchise f) Distributive or proportionate share of pass through entity expenses paid to losses incurred from f) First $50 000 of Ohio taxable income (see note above) f) Interest on Ohio public and purchase obligations and gain from the sale of Ohio public obligations 2f federal adjustments (if applicable) with respect to (i) I R C section Federal employer I D number For Department Use Only Date Received Check Amount Processing Code for federal income tax purposes adjusted by any miscellaneous for refund for tax withheld by the Ohio Lottery Commission Franchise tax report years in each of which the taxpayer deducts 1/5 of the I R C section 168(k) FT 1120 g) Contributions to an individual development account program 2g g) Ohio taxable income greater than $50 000 (see note above) g) Total additions (add lines 1a through 1f) 1g gardless of whether those related taxpayer corporations actually h) Add lines (f) and (g) h h) Net income from an exempted investment in a public utility 2h has not during the preceding year except as permitted by R C sections 3517 082 here and in the everywhere column of Schedule C line 1 However if the historic building preservation credit the refundable motion picture credit and/or the refundable credit for tax withheld by the Ohio Lottery I declare under penalties of perjury that this report (including any accompanying i) Depreciation expense adjustment from Schedule B 4 line 19 and miscellaneous federal tax adjustments 2i i) Taxable value (from Schedule F line 7) income for the taxable year are the taxpayer s amounts expensed indirectly allowed the taxpayer under I R C section 179 adjusted by Instructions for Check Boxes on Page 1 Instructions for this form are on our Web site at tax ohio gov Whole Dollars Only is 100% In computing the property payroll and sales factors do not include the portion of property payroll and sales to the extent such its proportionate share of the number of employees of the pass through entity Gross receipts include j) Greater of lines (h) or (i) but not greater than $5 000 If the taxpayer is a member of a combined report j) Total deductions (add lines 2a through 2i) 2j le this report only if the taxpayer is described in Line 1g minus line 2j If negative put in parentheses Enter here and on Schedule A line 2 3 line 2 enter in column (b) 1/5 of that amount line 3 enter in column (c) 1/5 of that amount line 6 and if applicable Schedule F line 6 (see note in Schedule F) 4 machinery and equipment cannot reduce the taxpayer s liability below the minimum fee Mail with remittance to: Ohio Department of Taxation P O Box 27 Columbus Ohio 43216 0027 Minimum Fee Requirements Minimum Fee Thresholds must prorate the $0 to $50 000 bracket on Ohio form FT OTAS NAICS code Net Income Basis net income basis tax bracket to which the 5 1% rate applies Such Net Worth Net Worth Basis Net Worth Basis (The tax on net worth basis is not to exceed $150 000 ) Note: All related Ohio taxpayer corporations that as of Jan 1 of file a combined report See R C 5733 06(F) Each taxpayer s Ohio Note: Any request for deviation from the statutory allocation and apportionment provisions must be in writing If the denominator of any factor is Note: Complete Schedule D 2 only if the taxpayer has nonbusiness income In apportioning net worth adjust the numerator and denominator Note: In determining these thresholds the taxpayer must include its proportionate share of the gross Note: Taxable value is determined on a separate company basis even if the taxpayer is a member of a combined report Multiply the of the apportionment ratio from Schedule D above to include the portion of any real and tangible personal property payroll and sales Ohio charter or license number Ohio franchise tax I D # Ohio franchise tax I D number Ohio Revised Ohio Revised Code section (R C ) 5751 01(E)(5) (6) (7) (8) or (10) Ohio Taxpayer Affiliation Schedule The proration however made on Ohio form FT 1120C Schedule B (Combined) line 2(e) or exceeds 300 or property so used Penalty Please staple report Do not staple check plus 2013 E political party a candidate for election or nomination to public office or a political portion relates to or is used in connection with the production of nonbusiness income preparer has knowledge (see Ohio form FT 1120 general instructions item #16) preservation credit (ii) refundable motion picture credit and/or (iii) refundable credit President purpose whatever or for reimbursement or indemnification of any person for money Questionnaire (you must complete this schedule) R C 5733 04(I)(17) and (I)(18) See the department s information releases R C 5733 05(C)(2) 2 receipts of any pass through entity in which the taxpayer has a direct or indirect ownership interest and receipts that generate business income and receipts that generate nonbusiness income related taxpayers must share one $0 to $50 000 tax bracket re related to or used in connection with the production of nonbusiness income allocated under R C 5733 051 report enter here and include the sum on Schedule B (Combined) line reported on last year s franchise tax report Rev 12/12 Rev 12/12 Rev 12/12 Rev 12/12 same as were reported on last year s franchise tax report Schedule A 1 Nonrefundable Credits Schedule A 2 Refundable Credits Schedule A line 10 14 Schedule A line 16 Schedule A line 4) 3 3 Schedule A line 8) 4 4 Schedule A Net Income Schedule B Schedule B 3 Related Entity and Related Member Adjustments Schedule B 4 Bonus Depreciation and Section 179 Adjustment Schedule B 4 Cont Schedule B line 2(i) However if the taxpayer is a member of a combined Schedule C Allocable Income R C 5733 051 Schedule C nonbusiness income allocable everywhere Schedule C nonbusiness income allocable to Ohio Schedule D 2 Net Worth Apportionment Ratio R C 5733 05(C)(2) Schedule D Net Income Apportionment Ratio R C 5733 05(B)(2) Schedule E Balance Sheet Schedule F Computation of Taxable Value R C 5733 05(C) Schedule F line 6 even if the taxpayer is a member of a combined report 4 Schedule G Tax Computation Worksheet schedule or statement) has been examined by me and to the best of my knowledge Secretary Section Section 1: Franchise Tax Computation Section 2: Litter Tax Computation section 5733 04(I)(17)(a)(ii) see Ohio form FT 1120C for limitation Enter the total on Schedule A line 18 j See the instructions for Schedule B lines 1(e) and 2(i) and R C Statutory Agent subsidiaries Tax Due tax report tax report tax report Tax year taxable income that exceeds the prorated amount is taxable at taxpayer is a member of a combined report enter here and include the sum taxpayer is a member of a combined report enter here and on Schedule taxpayer s separate company net value of stock by the taxpayer s separate company apportionment ratio Telephone number the higher franchise tax and litter tax rates Related taxpayers the report year meet the ownership or control requirements to file the sum of (i) 5/6 of the I R C section 168(k) bonus depreciation amount the upper right corner on page 1; (ii) completing lines 23 through 31 on page 1; (iii) completing the declaration on page 8; and (iv) filing This field MUST be completed this form with a copy of the appropriate tax credit certificate if claiming one of the refundable credits Please do not check the box if the Tier One Litter Tax Tier One Litter Tax (Complete tier one if the amount on line (e) is greater than the minimum fee ) times line 8 ) 13 to I R C section 179 depreciation expense and (ii) the amount of to Ohio To Schedule C To Schedule C Total Everywhere Within Ohio Note: All income gain loss and expense is presumed to be apportionable Total interest and penalty 27 transactions with and excess inventory costs paid to related members 1f Treasurer under I R C section 179 as that section existed on Dec 31 2002 Web site at tax ohio gov What was the last year the IRS redetermined the corporation s federal taxable income? with respect to which registration is required under I R C section 6111? Yes No x 00014 = i x 0011 = f x 0022 = g x 004 = d x 051 = a x 085 = b x 20 = 1c x 20 = 1e x 20 = 2 x 20 = 2c x 60 = 3 x 60 = 3c X 90% = 4c year equals or exceeds $5 million; or zero the weight given to the other factors must be proportionately increased so that the total weight given to the combined number of factors used