For tax year 2010 through 2013, the corporation franchise tax applied only to financial institutions and a relatively small number of other corporations described in Ohio Revised Code section 5733.01(G). These corporations were not subject to the phase-out and do not pay the commercial activity tax (CAT).
For tax years 2009 and prior, the corporation franchise tax was an excise tax imposed on corporations (other than nonprofit organizations) for the privilege of exercising their corporation franchise in Ohio.
Taxpayers must file an amended corporation franchise tax report if the taxpayer or the Internal Revenue Service recomputed the taxpayer’s federal taxable income or the taxpayer’s federal income tax liability. An amended corporation franchise tax report (check the amended return box at the top of page 1 of form FT 1120 or FT 1120FI) must be filed by the earliest of the following dates:
- One year after final determination of the adjustment for federal income tax purposes; or
- One year after the taxpayer paid the additional federal income tax as a result of the adjustment (whether or not the adjustment was agreed to); or
- One year after the taxpayer received a federal income tax refund as a result of the adjustment.
The above provision applies even if the three-year statute of limitations has passed and applies to amended reports which reflect overpayments as well as amended reports which reflect underpayments. If the amended report reflects an underpayment, the amended report must be accompanied by payment of any additional tax and interest. If the amended report reflects an overpayment, the amended report must be accompanied by form FT REF, Application for Refund, or a letter that requests the refund and explains the adjustments.
Upon completing an amended report, please check the amended report box on the front of the report. Please do not send an amended report to PO Box 27 (the address on the form). Please send the amended report along with the payment and/or the appropriate attachments to:
Ohio Department of Taxation, Corporation Franchise Tax Unit, PO Box 2476, Columbus, OH 43216-2476
Please note that taxpayers may not apply an overpayment reflected on an amended report to another year.
Amounts reported on federal form 1120 or 1120A, as well as Ohio adjustments and allocations, are subject to verification and audit by the Ohio Department of Taxation.
To download Ohio corporation franchise tax forms, visit our Tax Forms home page.
To request a refund in connection with an amended Ohio corporation franchise tax report, corporations should file an amended report along with an Application for Corporation Franchise Tax Refund (prescribed form FT REF) (the preferred method). However, a letter accompanying the amended report detailing the reasons for the overpayment may be accepted in lieu of form FT REF if the letter contains a statement which sets forth the full and complete reason for the overpayment (see Abitibi-Price Corporation and Subsidiaries v Tracy, BTA No. 98-N-401(3-12-01)). The filing of an amended report without an application for refund or without a letter detailing the reason for the claim is not sufficient and does not constitute an application for refund.
Note: An application for refund is not required when the claimed overpayment is indicated on the originally filed corporation franchise tax report.
Form FT REF applies to claimed overpayments by a taxpayer, whether payment was made voluntarily or as the result of an assessment issued by the Ohio Department of Taxation. If the claimed overpayment is not the result of an IRS adjustment and the statute of limitations has not been extended by form FT WAIVER (the prescribed form by which the Department of Taxation and the taxpayer agree to extend the statute of limitations for the period of time set forth in the FT WAIVER agreement), then the department must receive the application for refund within three years of the date of the illegal, erroneous, or excessive payment.
If the claimed overpayment is the result of a change in federal taxable income, then the department must receive the application for refund within the later of the following: (a) the three-year time period set forth above or (b) the one-year period described under "When should federal changes be reported to Ohio?" However, if the refund claim is filed after the three year refund statute of limitations has expired and the statute of limitations has not been extended by form FT WAIVER, then the refund claim can include only the effects of the federal adjustments.
A franchise tax refund claim that is based on a capital loss carryback is timely filed if the refund claim is filed within three years from the due date of the franchise tax report (including extensions thereof) for the taxable year in which the capital loss arose. To download Ohio corporation franchise tax forms, visit our Tax Forms home page.
- Corporation name & address.
- Federal employer identification number (FEIN).
- Ohio corporation charter or license number.
- Ohio corporation franchise tax identification number.
- You will need to provide the contact name, address and phone number of the person making the request and receiving the certificate. You may be required to submit form TBOR-1, Declaration of Tax Representative.