Form Cat Cs - Commercial Activity Tax Credit Report

CAT CS

Rev. 10/08

P.O. Box 16158

Columbus, OH 43216-6158

Commercial Activity Tax Credit Report

CAT account number (of primary reporting entity)

FEIN/SSN

Reporting member’s name

Street address (number and street)

City

State

ZIP code

Period covered to

(Quarter for which this report is being submitted)

Instructions

Nonrefundable Credits

unused corporation franchise tax credit for qualified research

1. Jobs retention tax credit – For those taxpayers subject to the

expense carryforward amounts toward the taxpayer’s CAT liability,

corporation franchise tax phase-out and to the commercial activity

provided that the combined number of carryforward years under

tax (CAT) phase-in, 2008 is the last report year for which the Ohio

the corporation franchise tax and the CAT does not exceed seven.

Revised Code section (R.C.) 5733.0610(B) nonrefundable jobs

See R.C. sections 5733.351 and 5751.51 as enacted by Am.

retention tax credit will apply. For the remaining years of the

Sub. H.B. 66.

taxpayer’s agreement with the Tax Credit Authority, the credit then

3. Research and development loan repayment credits – For those

automatically converts to a nonrefundable credit against the

taxpayers subject to the corporation franchise tax phase-out and

taxpayer’s CAT liability for tax periods beginning on or after Jan.

to the CAT phase-in, 2008 is the last report year for which the

1, 2008. However, for purposes of making 2008 CAT payments,

R.C. section 733.352 nonrefundable research and development

credits claimed against a taxpayer’s CAT liability in tax year 2008

loan repayment credit will apply. The credit then automatically

may not be applied against that liability for a CAT period beginning

converts to a nonrefundable credit against the taxpayer’s CAT

before July 1, 2008. Furthermore, for CAT periods beginning on

liability for tax periods beginning on or after Jan. 1, 2008. The

or after July 1, 2008, the taxpayer may apply any unused

taxpayer can apply its R.C. section 5733.352 unused corporation

corporation franchise tax jobs retention tax credit carrryforward

franchise tax credit carryforward toward the taxpayer’s CAT liability

amounts against the taxpayer’s CAT liability, provided that the

as provided in R.C. section 5751.52. For purposes of making

total number of carryforward years under the corporation franchise

2008 CAT payments, credits and corporation franchise tax credit

tax and the CAT does not exceed three. See R.C. sections 5751(B)

carryforwards claimed against the CAT liability in tax year 2008

and 122.71 as enacted by Amended Substitute House Bill 66.

may not be applied toward that liability for a CAT period beginning

In addition, by redefining the term “capital investment project” to

before July 1, 2008. See. R.C. section 5733.352 as amended by

include project costs paid after Dec. 31, 2006, and by eliminating

Am. Sub. H.B. 66.

the provision that prohibited the Tax Credit Authority from entering

into tax credit agreements after June 30, 2007, the new law makes

Refundable Credits

this credit permanent under both the CAT and the corporation

1. Refundable jobs creation tax credit – For those taxpayers

franchise tax (for those taxpayers not subject to the corporation

subject to the corporation franchise tax phase-out and to the CAT

franchise tax phase-out). See R.C. sections 122.171 and

phase-in, 2008 is the last corporation franchise tax report year

5751.50 as enacted by Am. Sub. H.B. 66.

for which R.C. section 5733.0610(A) refundable jobs creation

2. Credit for Qualified Research Expenses – For those taxpayers

tax credits will apply. For the remaining years of the taxpayer’s

subject to the corporation franchise tax phase-out and to the CAT

agreement with the Ohio Tax Credit Authority, the credit then

phase-in, the 2008 corporation franchise tax report is the last

automatically converts to a refundable credit against the CAT for

report year for which the R.C. section 5733.351 nonrefundable

tax periods beginning on or after Jan. 1, 2008. However for the

credit for qualified research expenses will apply. The credit then

purposes of making 2008 CAT payments, credits claimed against

automatically converts to a nonrefundable credit against the

the CAT liability in tax year 2008 may not be applied against that

taxpayer’s CAT liability for CAT periods beginning on or after Jan.

liability for a CAT period beginning before July 1, 2008. For those

1, 2008. However, for purposes of making 2008 CAT payments,

taxpayers not subject to the corporation franchise tax phase-out,

credits claimed against the CAT liability in tax year 2008 may not

the jobs creation tax credit continues under the corporation

be applied toward the liability for a CAT period beginning before

franchise tax for the remaining years of the taxpayer’s agreement

July 1, 2008. Furthermore, for CAT periods beginning on or after

with the Tax Credit Authority. See R.C. sections 122.17 and

July 1, 2008, a taxpayer may apply its R.C. section 5733.351

5751.50 as enacted by Am. Sub. H.B. 66.

Form Cat Cs - Commercial Activity Tax Credit Report - 2008

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