Form Ft 1120fi - Corporation Franchise Tax Report For Financial Institutions

2007

Name

Franchise tax I.D.#

Tax year

FT 1120FI

Rev. 10/06

Page 4

Schedule A-1 – Nonrefundable Credits

Ohio Revised

Credits must be claimed in the order listed in R.C. 5733.98

Code Section

(R.C.)

Whole Dollars Only

1. Credit for dealer in intangibles tax paid by member of qualifying controlled group ....................... 5733.45

2. Credit for savings and loan association fees ................................................................................. 5733.063

3. Jobs training credit .......................................................................................................................... 5733.42

4. Credit for employers that establish an on-site day-care center (carryforward amount only) ......... 5733.37

5. Ethanol plant investment credit ....................................................................................................... 5733.46

6. Credit for taxes paid by a qualifying pass-through entity ................................................................ 5733.0611 6.

7. Total nonrefundable credits. Enter here and on Schedule A, line 5 ................................................................

A “financial institution” is any of the following:

ments thereto are not considered financial institutions, nor are

they considered dealers in intangibles. For franchise tax purposes

– A national bank organized and existing as a national bank

a production credit association is not a financial institution. See

association pursuant to the National Bank Act, 12 United

R.C. 5725.01(A) and 5733.04(K).

States Code (U.S.C.) 21;

A “qualified institution” is a financial institution that has at least 9%

– A federal savings association or federal savings bank that is

of its deposits in Ohio as of the last day of June prior to the begin-

chartered under 12 U.S.C. 1464;

ning of the tax year and meets one of the following three tests:

– A bank, banking association, trust company, savings and loan

On or after June 1, 1997 the financial institution has consum-

association, savings bank or other banking institution that is

mated one or more approved transactions with insured banks

incorporated or organized under the laws of any state;

with different home states that would qualify under section

102 of the Reigle-Neal Interstate Banking and Branching Ef-

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

ficiency Act of 1994, Public Law 103-328, 108 Stat. 2338; or

– Any agency or branch of a foreign depository as defined in 12

The financial institution is a federal savings and loan asso-

U.S.C. 3101;

ciation or federal savings bank that on or after June 1, 1997

has consummated one or more interstate acquisitions that

– A company licensed as a small business investment com-

result in a financial institution that has branches in more than

pany under the Small Business Investment Act of 1958, 72

one state; or

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

On or after June 1, 1997 the financial institution has consum-

– A company chartered under the “Farm Credit Act of 1933,” 48

mated one or more approved interstate acquisitions under

Stat. 257, 12 U.S.C. 1131(d), as amended.

the authority of Title XI of the Ohio Revised Code that result in

Insurance companies, credit unions and corporations or institu-

a financial institution that has branches in more than one

tions organized under the Federal Farm Loan Act and amend-

state.

Minimum Fee Requirements

Minimum Fee

Thresholds

$1,000

1. The sum of the taxpayer’s gross receipts from activities within and without Ohio during the taxable

year equals or exceeds $5 million; or

2. The total number of the taxpayer’s employees within and without Ohio during the taxable year

equals or exceeds 300.

Note: In determining these thresholds, the taxpayer must include its proportionate share of the

gross receipts of any pass-through entity in which the taxpayer has a direct or indirect ownership

interest and its proportionate share of the number of employees of the pass-through entity. Gross

receipts include receipts that generate business income and nonbusiness income.

$50

If the taxpayer’s gross receipts and number of employees did not equal or exceed the thresholds

above.

Form Ft 1120fi - Corporation Franchise Tax Report For Financial Institutions - 2007 Page 4

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