Form Ft Qhc - Qualifying Holding Company Election - Ohio Department Of Taxation
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Tax Year
FT QHC
Rev. 6/08
Ohio Department of Taxation
Qualifying Holding Company Election
Ohio Revised Code Sections (R.C.) 5733.04(L), 5733.05(D) and 5733.06(C)
Name of corporation making election
Ohio franchise tax ID number
Address
Ohio license/charter number
The taxpayer hereby elects to be a qualifying holding company (QHC) for the tax year indicated above. I declare that
all of the qualifying holding company requirements listed on pages two and three are met.
Signature of offi cer or managing agent
Title
Date
This election applies only to the above indicated tax year. If the taxpayer intends to be a qualifying holding company for
any other tax year, the taxpayer must meet the QHC requirements for that tax year and must make a separate election for
that tax year. A QHC is exempt from the net worth base of the franchise tax but is not exempt from the net income base. A
taxpayer can make the QHC election any time before the taxpayer’s statute of limitations expires for the tax year for which
the election applies. A taxpayer can also make the QHC election on a timely fi led petition for reassessment. Furthermore, a
taxpayer can revoke the QHC election.
Attach this election to the corporation’s franchise tax report, amended franchise tax report or petition for reassess-
ment. Also attach the following:
1. The name of each of the QHC’s related members as of the last day of the QHC’s taxable year preceding the tax year.
2. Identify those related members listed in #1 above that made or are required to make the franchise tax qualifying amount
adjustment required by division (D) of R.C. section 5733.05. That is, identify the QHC’s related members that must adjust
their net worth and debt for purposes of computing their franchise tax on the net worth base, such that the related mem-
bers’ debt-to-equity ratio equals the consolidated debt-to-equity ratio of the qualifying controlled group.
3. A consolidated balance sheet for the qualifying controlled group of which the QHC is a member as of the last day of the
QHC’s taxable year preceding the tax year. Furnish the name and federal employer identifi cation number of each member
of the QHC’s qualifying controlled group.
4. Compute the consolidated debt to equity ratio for the qualifying controlled group of which the taxpayer is a member.
The terms in bold print, above, are defi ned on page 3.
Requirements
A QHC is a taxpayer that satisfi es all of the following fi ve requirements and elects to be treated as a QHC:
1. The taxpayer’s “intangible assets ratio” equals or exceeds 90%. The intangible assets ratio is the average of the
quarterly ratios determined as of the end of each of the four quarters of the taxpayer’s taxable year ending before Jan. 1
of the tax year. Each quarterly ratio is computed as follows:
Net book value (NBV) of the taxpayer’s intangible assets
NBV of all the taxpayer’s assets minus the sum of (a) and (b)
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