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B. If the taxpayer is a foreign corporation and ﬁ rst became an

Franchise Tax and must pay one-third of the estimated tax, but

Ohio taxpayer during 2012 (that is, during 2012 the corporation

not less than the minimum fee. But, if the taxpayer is required

began doing business in Ohio, began owning or using part or all

to pay by electronic funds transfer (EFT) and timely makes an

of its capital or property in Ohio, obtained a license authorizing

estimated payment by Jan. 31, then the taxpayer should not

it to do business in Ohio or otherwise established nexus with

ﬁ le Ohio form FT 1120E (see general instruction #9D).

Ohio under the Constitution of the United States) and after it

B. Extension

became an Ohio taxpayer its ﬁ scal year ended in 2012, then

The tax commissioner will grant an automatic extension of time

the taxpayer must use the accounting period commencing on

for ﬁ ling the report until May 31, 2013 if by March 31, 2013 the

the earliest of the following dates: (i) the date that it began

taxpayer submits Ohio form FT 1120ER together with payment

doing business in Ohio, (ii) the date that it began owning or

of the second one-third of the estimated tax due. If the taxpayer

using a part or all of its capital or property in Ohio, (iii) the date

will ﬁ le its franchise tax report after March 31, the taxpayer

that it obtained a license authorizing it to do business in Ohio

must submit Ohio form FT 1120ER by March 31 even if no

or (iv) the date that it established nexus with Ohio under the

additional payment is due. But, if the taxpayer is required to

Constitution of the United States. The taxable year ends on

pay by EFT and timely makes its second estimated payment

the taxpayer’s ﬁ scal year ending in 2012.

by March 31, then the taxpayer has an automatic extension

C. All other new taxpayers must use the accounting period com-

for ﬁ ling its franchise tax report to May 31 and the taxpayer

mencing with the earliest of the four dates set forth in B above,

should not ﬁ le Ohio form FT 1120ER (see general instruction

and concluding with Dec. 31, 2012. See paragraphs (E)(2) and

#9D).

(E)(4) of Tax Commissioner Rule 5703-5-03.

Additional Extension

If the corporation changed its taxable year in 2011 or 2012

The tax commissioner will grant an additional automatic

or if the corporation had more than one federal taxable year

extension of time for ﬁ ling the report beyond May 31, 2013 if

ending in calendar year 2012, please see the above rules to

the taxpayer has been granted an extension by the Internal

determine the taxpayer’s taxable year. See our Web site for a

Revenue Service and by May 31 the taxpayer submits Ohio

copy of the rules.

form FT 1120EX together with the balance of the tax due. The

second extension extends the ﬁ ling date to the 15th day of

8. Tax Rate and Minimum Fee

the month following the month for which the IRS has granted

A ﬁ nancial institution is subject to the franchise tax at the rate of 13

an extension for ﬁ ling the corporation’s federal income tax

return. A copy of the federal extension must be attached to

mills (.013) on its net value of stock apportioned to Ohio. However,

the tax cannot be less than the minimum fee.

the franchise report, Ohio form FT 1120FI, when ﬁ led.

If the taxpayer is required to pay by EFT and timely makes

The minimum franchise tax fee is $1,000 if either (i) the sum of the

taxpayer’s gross receipts from its activities within and without Ohio

its third estimated payment by May 31, then the taxpayer has

during the taxable year equal or exceed $5 million or (ii) the total

an automatic extension for ﬁ ling its franchise tax report to

the 15th day of the month following the month for which the

number of the taxpayer’s employees within and without Ohio at any

time during the taxable year equals or exceeds 300. In determining

Internal Revenue Service has granted an extension for ﬁ ling

the corporation’s federal income tax return and the taxpayer

whether the taxpayer’s gross receipts and number of employees

equal or exceed those thresholds, the taxpayer must include its

should not ﬁ le Ohio form FT 1120EX (see general instruction

proportionate share of the gross receipts of any pass-through entity

#9D).

in which the taxpayer has a direct or indirect ownership interest and

The table below lists the latest possible due dates for ﬁ ling the

its proportionate share of the number of employees of the pass-

franchise tax report for tax year 2013 for the various taxable

through entity. Furthermore, “gross receipts,” as used here, includes

years ending in 2012. The table reﬂ ects the following assump-

receipts which generate nonbusiness income and receipts from the

tions:

sale of capital assets and I.R.C. section 1231 assets whether those

• If the taxpayer's taxable year ended on or after Aug. 31, 2012,

sales generate business income or nonbusiness income.

the taxpayer has the maximum allowable federal extension,

The minimum fee is $50 for taxpayers whose gross receipts and

• The taxpayer has timely ﬁ led Ohio franchise tax forms FT

number of employees are less than the thresholds discussed

1120E, FT 1120ER and, where applicable, FT 1120EX, and

• The taxpayer made a good faith effort to timely pay its

above. See R.C. 5733.06(E).

estimated franchise tax.

9. Time, Place and Method for Filing and Payment

Latest Possible Due Date

Taxable Year Ending

Except as otherwise provided, if a payment or document is mailed on

for Filing the 2013

or before the due date but delivered after the due date, the postmark

Franchise Tax Report

date is deemed the date of delivery. If the due date of the report or

the due date of an extension or payment falls on a Saturday, Sun-

05/31/2013

01/31/12 through 7/31/12

day or legal holiday, then the report, extension or payment may be

06/15/2013

08/31/2012

made on the next succeeding day that is not a Saturday, Sunday or

legal holiday. Certain large taxpayers must pay by electronic funds

07/15/2013

09/30/2012

transfer (see general instruction #9D).

08/15/2013

10/31/2012

A. Filing Date; Payment Date; Declaration of Estimated Tax

09/15/2013

11/30/2012

The ﬁ ling and payment of the Ohio franchise tax for report year

10/15/2013

12/31/2012

2013 is due between Jan. 1 and March 31, 2013. However,

if by Jan. 31 the taxpayer does not ﬁ le the report and make

Note: Payment of all franchise tax for tax year 2013 is due

by May 31, 2013, even if the taxpayer has an extension to

full payment of the tax, then by Jan. 31 the taxpayer must ﬁ le

ﬁ le after that date.

Ohio form FT 1120E, Declaration of Estimated Corporation

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Form Ft 1120fi - Ohio Corporation Franchise Tax Instructions For Financial Institutions - 2013 Page 5

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