Form Ft 1120-Fi - 2002 Corporation Franchise Tax Report For Financial Institutions (Page 4 of 4) in pdf

Revised FT 1120-FI

Name

Franchise Tax ID Number

2002

Schedule A-1 — Nonrefundable Credits

Credits must be claimed in the order listed. Section 5733.98

Ohio Revised

Code Section

______________

Credit for taxes paid by a qualifying pass-through entity ...........................................................

5733.0611

______________

Credit for dealer in intangibles tax paid by member of qualifying controlled group ..................

5733.45

______________

Credit for savings and loan association fees ............................................................................

5733.063

______________

Credit for employers that enter into agreements with child daycare centers ...........................

5733.36

______________

Credit for employers that reimburse employees’ child daycare expenses ..............................

5733.38

______________

Credit for employers that establish an on-site daycare center .................................................

5733.37

Total nonrefundable credits (enter on Schedule A, line 5) ..............................................................................

A “financial institution” is any of the following:

–

A national bank organized and existing as a national bank association pursuant to the “National Bank Act,” 12

U.S.C. 21;

–

A federal savings association or federal savings bank that is chartered under 12 U.S.C. 1464;

–

A bank, banking association, trust company, savings and loan association, savings bank, or other banking institution

that is incorporated or organized under the laws of any state;

–

Any corporation organized under 12 U.S.C. 611 to 631;

–

Any agency or branch of a foreign depository as defined in 12 U.S.C. 3101;

–

A company licensed as a small business investment company under the “Small Business Investment Act of 1958,”

72 Stat. 689, 15 U.S.C. 661 as amended; or

–

A company chartered under the “Farm Credit Act of 1933,” 48 Stat. 257, 12 U.S.C. 1131(d), as amended.

Insurance companies, credit unions, and corporations or institutions organized under the “Federal Farm Loan Act” and

amendments thereto are not considered financial institutions; nor are they considered dealers in intangibles. For franchise

tax purposes a production credit association is not a financial institution. See ORC 5725.01(A) and 5733.04(K).

A “qualified institution” is a financial institution that has at least ten percent of its deposits in Ohio (or if the taxpayer’s

taxable year ended on or after December 13, 2001, at least nine percent of its deposits in Ohio) as of the last day of June

prior to the beginning of the tax year and meets one of the following three tests:

On or after June 1, 1997 the financial institution has consummated one or more approved transactions with insured

banks with different home states that would qualify under section 102 of the “Reigle-Neal Interstate Banking and

Branching Efficiency Act of 1994,” Public Law 103-328, 108 Stat. 2338; or

The financial institution is a federal savings and loan association or federal savings bank that on or after June 1, 1997

has consummated one or more interstate acquisitions that result in a financial institution that has branches in more

than one state; or

On or after June 1, 1997 the financial institution has consummated one or more approved interstate acquisitions

under the authority of Title XI of the Ohio Revised Code that result in a financial institution that has branches in more

than one state.

Page 4

Form Ft 1120-Fi - 2002 Corporation Franchise Tax Report For Financial Institutions Page 4

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