Ohio — Corporate Income / Franchise Tax

Ohio does not impose a corporate income tax or franchise tax for tax years 2014 and after. The state fully phased out its corporate franchise tax, which was codified in Ohio Revised Code Chapter 5733, with the last franchise tax returns filed for the 2013 tax year (based on taxable years ending in 2012).

Source: Ohio Rev. Code § 5733.01(B)

The franchise tax was replaced by the Commercial Activity Tax (CAT), a gross receipts tax that applies to most businesses regardless of legal structure. The CAT became effective July 1, 2005, under House Bill 66 of the 126th General Assembly and was phased in as the corporate franchise tax was phased out through 20-percentage-point annual increments over five years beginning in tax year 2006.

Source: Ohio Department of Taxation, Corporation Franchise Tax Publication

## What the franchise tax applied to (historical)

For tax years prior to 2014, the Ohio corporate franchise tax was imposed on domestic corporations organized for profit under Ohio law for the privilege of exercising their franchise, and on foreign corporations for the privilege of doing business in Ohio, owning or using capital or property in Ohio, holding a certificate of compliance, or otherwise having nexus with Ohio under the U.S. Constitution. A corporation was subject to the tax for each calendar year prior to 2014 that it met these criteria on the first day of January of that calendar year.

Source: Ohio Rev. Code § 5733.01(A), (B)

The franchise tax was measured on the value of a corporation's issued and outstanding shares of stock, calculated under both a net income base and a net worth base, with taxpayers (other than financial institutions and qualifying holding companies) paying on the base that produced the greater tax. Financial institutions paid tax based on net worth only.

Source: Ohio Department of Taxation, Corporation Franchise Tax Publication

## What replaced it

Ohio replaced the corporate franchise tax with the Commercial Activity Tax (CAT), a 0.26% gross receipts tax imposed on business activities conducted in Ohio. Unlike the franchise tax, the CAT applies broadly to all entity types—corporations, S corporations, LLCs, partnerships, and sole proprietorships—with limited exceptions for financial institutions subject to the Financial Institutions Tax and certain other exempt entities.

For tax years beginning in 2025 and after, businesses with Ohio taxable gross receipts exceeding $6 million per calendar year are generally subject to the CAT. The threshold was $3 million in 2024 and $1 million (with a $150,000 registration threshold) in prior years.

Source: Ohio Rev. Code Chapter 5751 (CAT statute) Source: BradyWare, Ohio CAT Updates (September 2025)

Practitioners researching Ohio corporate-level taxation for current or recent tax years should consult the Commercial Activity Tax guide (to be published separately under the gross-receipts tax type) rather than the franchise tax statute, which remains codified but applies only to pre-2014 tax years and related audits, refunds, or carryforward items.

For tax years prior to 2014, Ohio imposed a corporate franchise tax on domestic and foreign corporations that met certain nexus standards on January 1 of each calendar year. Understanding these historical nexus rules remains important for practitioners handling audits, amended returns, refund claims, or carryforward items from the franchise tax period.

## Domestic corporations

Domestic corporations — those organized for profit under Ohio law — were subject to franchise tax for the privilege of exercising their franchise in Ohio. A domestic corporation had nexus and owed franchise tax for a calendar year if it was so organized on January 1 of that year.

Source: Ohio Rev. Code § 5733.01(A), (B)

## Foreign corporations

Foreign corporations — those organized under the laws of another state or country — were subject to Ohio franchise tax if they met any of the following conditions on January 1 of the calendar year:

• Doing business in Ohio
• Owning or using a part or all of their capital or property in Ohio
• Holding a certificate of compliance with Ohio law authorizing them to do business in the state
• Otherwise having nexus in or with Ohio under the U.S. Constitution

Source: Ohio Rev. Code § 5733.01(A), (B)

The statute did not define "doing business" with specificity, instead relying on a disjunctive list of activities. A foreign corporation holding a valid certificate of compliance (certificate of authority) as of January 1 was subject to franchise tax for that calendar year regardless of whether it conducted any Ohio activities during the year.

Source: Ohio Rev. Code § 5733.01(A)

## January 1 measurement date

The franchise tax nexus determination was made on January 1 of each calendar year. If a corporation met the nexus standard on that date, it owed tax for the entire calendar year. A corporation that ceased operations in Ohio or withdrew its certificate of authority during the year remained liable for the full year's tax if it had nexus on January 1.

Source: Ohio Rev. Code § 5733.01(B)

## Constitutional nexus standard

The fourth prong — "otherwise having nexus in or with this state under the Constitution of the United States" — extended franchise tax liability to foreign corporations with sufficient connection to Ohio to satisfy federal constitutional due process and Commerce Clause requirements, even if they did not hold a certificate of authority or formally "do business" in Ohio.

Source: Ohio Rev. Code § 5733.01(A), (B)

## Application to historical matters

These nexus standards remain relevant for:

• Audits of pre-2014 franchise tax returns
• Amended returns triggered by federal adjustments to pre-2014 taxable years
• Refund claims for pre-2014 overpayments
• Determining whether net operating loss carryforwards or credit carryforwards from franchise tax years were properly calculated

Practitioners should apply the January 1 nexus measurement date when analyzing whether a corporation was subject to franchise tax for a given year, and should distinguish franchise tax nexus from the different nexus standards that apply to Ohio's Commercial Activity Tax (CAT), which replaced the franchise tax in 2014.

Source: Ohio Department of Taxation, Corporation Franchise Tax Publication

For tax years prior to 2014, Ohio's corporate franchise tax was calculated using two alternative bases: a net income base and a net worth base. Non-financial corporations (except qualifying holding companies) paid the greater of the tax computed under either base. Financial institutions paid only on the net worth base at thirteen mills (1.3 percent). For other corporations, the net worth base rate was four mills (0.4 percent). Both bases applied Ohio apportionment using a three-factor formula weighted 20% property, 20% payroll, and 60% sales. The tax began phasing out for most corporations in 2005 under House Bill 66, with the phase-out completed after tax year 2013.

Source: Ohio Rev. Code § 5733.05 Source: Ohio Department of Taxation, Corporation Franchise Tax Publication

Ohio does not impose a corporate income tax. Corporations and other business entities are instead subject to the Commercial Activity Tax (CAT), a gross receipts tax levied on the privilege of doing business in the state. The CAT is not a transactional tax and is not subject to Public Law 86-272. For calendar years 2025 and after, businesses with Ohio taxable gross receipts exceeding $6 million are subject to CAT at a rate of 0.26 percent (2.6 mills per dollar). The CAT applies broadly to all entity types—corporations, S corporations, LLCs, partnerships, and sole proprietorships—with exceptions for certain excluded persons including most nonprofit organizations and financial institutions subject to the Financial Institutions Tax.

Source: Ohio Rev. Code § 5751.02 Source: Ohio Rev. Code § 5751.03

Ohio imposes a Financial Institutions Tax (FIT) on bank organizations, holding companies of bank organizations, and nonbank financial organizations engaged primarily as small dollar lenders. The FIT became effective for tax year 2014 under House Bill 510 of the 129th General Assembly, replacing the dealer in intangibles tax and serving as the corporate-level tax for financial institutions after the franchise tax was eliminated.

The FIT is an annual privilege tax imposed on each financial institution doing business in Ohio or otherwise having nexus under the U.S. Constitution. The tax base is the financial institution's total Ohio equity capital, calculated by apportioning total equity capital (as reported on the FR Y-9, call report, or in accordance with GAAP) using a single-factor gross receipts apportionment formula. For tax years beginning in 2020 and after, total Ohio equity capital is limited to 14% of the financial institution's total assets.

The annual tax is the greater of $1,000 (minimum tax) or the following tiered rates: 8 mills on the first $200 million of total Ohio equity capital; 4 mills on capital between $200 million and $1.3 billion; and 2.5 mills on capital exceeding $1.3 billion. Financial institutions subject to FIT are excluded from the Commercial Activity Tax (CAT).

Source: Ohio Rev. Code Chapter 5726 Source: Ohio Department of Taxation, Financial Institutions Tax

Ohio's Commercial Activity Tax (CAT) applies to persons with taxable gross receipts for the privilege of doing business in Ohio. The CAT is imposed at a rate of 2.6 mills per dollar (0.26 percent) on taxable gross receipts after subtracting an exclusion amount that is set for each calendar year by statute.

Statutory framework

Ohio Revised Code § 5751.02 imposes the CAT "on each person with taxable gross receipts for the privilege of doing business in this state." "Doing business" is defined broadly to mean "engaging in any activity, whether legal or illegal, that is conducted for, or results in, gain, profit, or income, at any time during a calendar year." The CAT is not a transactional tax and is not subject to Public Law 86-272.

Ohio Revised Code § 5751.03 sets the tax rate at 2.6 mills per dollar of the taxpayer's taxable gross receipts for the tax period "after subtracting the exclusion amount for the calendar year." The statute provides that each taxpayer applies the full exclusion amount to the first calendar quarter return the taxpayer files that calendar year and may carry forward any unused exclusion amount to subsequent calendar quarters within that same calendar year.

Exclusion amount — current levels

For calendar year 2025 and after, multiple authoritative sources report that the exclusion amount is $6 million. Taxpayers with $6 million or less in taxable gross receipts for the calendar year are not required to file a CAT return or pay CAT. Taxpayers with taxable gross receipts exceeding $6 million pay the 0.26 percent rate on the amount above $6 million. For example, a taxpayer with $8 million in taxable gross receipts for 2025 would subtract the $6 million exclusion and pay 0.26 percent on $2 million, for a CAT liability of $5,200.

For calendar year 2024, the exclusion amount was $3 million. The increase from $3 million to $6 million was enacted by House Bill 96 of the 136th General Assembly, which became effective June 30, 2025.

The specific dollar amounts of the exclusion by year are not visible in the version of Ohio Revised Code § 5751.03 available on the Legislative Service Commission website as of May 28, 2026; the statute cross-references other definitions or contains year-specific amounts that are updated by amendment. Practitioners should confirm the current exclusion amount with the Ohio Department of Taxation or by reviewing the full text of § 5751.03 as amended by House Bill 96.

Earlier thresholds

For calendar years 2019–2023, the exclusion amount was $1 million, with a separate $150,000 registration threshold that required taxpayers to register even if their gross receipts did not exceed the filing threshold.

Elimination of annual minimum tax and annual filing

House Bill 96 also eliminated the annual minimum tax that previously applied to registered CAT taxpayers and eliminated the option to file annual returns. All taxpayers subject to CAT for calendar year 2025 and after must file quarterly returns, due on the 10th day of the second month after the end of each calendar quarter. Taxpayers that no longer meet the threshold should cancel their CAT account to avoid receiving delinquency notices for returns they are not required to file.

Substantial nexus and excluded persons

The CAT applies to persons with substantial nexus with Ohio, which includes but is not limited to physical presence (such as owning property in Ohio worth $50,000 or more, or paying $50,000 or more in Ohio wages) or sufficient economic connection through Ohio-situs receipts. The CAT is not subject to Public Law 86-272 and applies broadly to all entity types — corporations, S corporations, LLCs, partnerships, and sole proprietorships — with limited exceptions.

Certain persons are excluded from CAT even if they have taxable gross receipts exceeding the exclusion amount. Excluded persons include financial institutions subject to the Financial Institutions Tax (Ohio Rev. Code Chapter 5726), certain insurance companies, nonprofit organizations, and the state and its political subdivisions.

Source: Ohio Rev. Code § 5751.02 (imposition) Source: Ohio Rev. Code § 5751.03 (rate and exclusion) Source: Ohio Rev. Code § 5751.01 (definitions and exclusions)

For tax years prior to 2014, Ohio permitted and, under certain circumstances, required affiliated corporations to file combined reports for purposes of the Ohio corporate franchise tax. This combined reporting regime is governed primarily by Ohio Revised Code § 5733.052, which provided the statutory authority for combining the net incomes and net worth of two or more corporations under common ownership or control.

Election to file combined report: Affiliated groups that met the statutory definition of "affiliated group" (commonly 80% owned, directly or indirectly, by a common parent as defined in IRC § 1504) could elect to file on a combined basis by submitting Form FT 1120C. Once made, this election was binding for a specified period (generally five years) unless the Tax Commissioner permitted a change for good cause.

Commissioner-mandated combination: Ohio also authorized the Tax Commissioner to require combined reporting if it was necessary to properly reflect net income or if separate reporting would distort taxable income attributable to Ohio. The Commissioner could compel combination of related corporations—even if no election was made—particularly if transactions between affiliates resulted in improper shifting of income or deductions.

What could not be combined: Combined filing was generally limited to entities subject to the franchise tax under Ohio law. Non-corporate entities and corporations exempt from franchise tax (e.g., S corporations after the law change, some financial institutions) could not be included in a combined group. Combined filing under the franchise tax was distinct from a federal consolidated return, and the Ohio franchise tax did not require or recognize a true consolidated return in the federal sense.

Key authority:

• Ohio Rev. Code § 5733.052 (authority for combined reporting, requirements, and limitations)
• Ohio Admin. Code 5703-5-06 (regulation providing administrative detail on combined filing, Form FT 1120C mechanics)

These rules continue to be relevant for audits, amended returns, and carryforward computations related to pre-2014 Ohio franchise tax years.

Source: Ohio Rev. Code § 5733.052 Source: Ohio Admin. Code 5703-5-06

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For tax years prior to 2014, Ohio required corporations subject to the corporate franchise tax (under Ohio Rev. Code Chapter 5733) to file annual returns and make estimated payments on a specific statutory schedule. The tax has been fully phased out for tax years beginning in 2014 and later, but legacy obligations may still arise for audits or amended returns of earlier periods.

Annual Return Due Date Ohio Rev. Code § 5733.02 required each corporation subject to the franchise tax to file its annual report and remit the tax on or before March 31 of the tax year.

Extension of Filing Deadline The Tax Commissioner could grant an extension for filing the annual report under Ohio Rev. Code § 5733.13. If granted, the filing deadline was extended to May 31, or to the last day of the federal extended filing period if a federal extension was in place for the corporation's federal return.

Estimated Payment Requirements Ohio Rev. Code § 5733.021 required that, if the annual report and payment were not submitted by January 31, the taxpayer was required to file a declaration of estimated franchise tax by that date. Estimated tax exceeding the statutory minimum was paid in three installments:

• One-third due with the declaration (January 31),
• One-third due by March 31,
• The remaining one-third due by May 31 if an extension was granted, or by March 31 if no extension was requested or allowed.

If the estimated tax was equal to or less than the minimum tax, the entire payment was due with the declaration by January 31.

Current Status No annual return or estimated payment under Ohio Rev. Code Chapter 5733 is required for tax years beginning in 2014 or after. These deadlines remain relevant only for audits, amended returns, or unresolved franchise tax matters for tax years prior to 2014.

Source: Ohio Rev. Code § 5733.02 Source: Ohio Rev. Code § 5733.13 Source: Ohio Rev. Code § 5733.021

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For corporations with unused net operating loss (NOL) carryforwards from pre-2014 Ohio corporate franchise tax years, those NOLs generally cannot be used to offset liability for any current Ohio state-level tax other than through a special, time-limited Commercial Activity Tax (CAT) credit authorized by statute. The CAT is a gross receipts tax that replaced the corporate franchise tax beginning in 2005 (phased in) and fully for 2014 and later years.

Statutory CAT credit for unused franchise tax NOLs The sole provision for utilizing unused franchise tax NOLs post-repeal is found in Ohio Rev. Code § 5751.53 (as amended by House Bill 96, 136th General Assembly, effective June 2025). This section allows a credit against the Ohio CAT for certain taxpayers that had allowable but unused NOL deductions under the repealed franchise tax regime as of the last taxable year the franchise tax was imposed (generally for taxable years ending in 2013). The amount and computation of this CAT credit are subject to detailed limitations and calculation rules specified in the statute:

• The credit is available for NOLs not previously deducted for franchise tax years ending before July 1, 2014,
• The credit is claimed against the CAT, not other taxes (e.g., not municipal net profits tax or other state taxes),
• Credit amounts and carryforward/carryover periods are determined under the specific rules and formula included in § 5751.53,
• HB 96 clarified technical points and extended the period for claiming the CAT credit into subsequent tax years beyond initial enactment but does not reopen or expand NOL use to other tax types.

No use of corporate franchise tax NOLs for other state or local taxes Neither the CAT statute (ORC Chapter 5751) nor Ohio's current corporate tax scheme authorizes deduction or credit of pre-2014 franchise tax NOLs against any tax other than the limited CAT credit established by § 5751.53. There is no statutory bridge permitting these legacy NOLs to offset municipal net profits tax, state income tax, or any successor or replacement tax (such as the Financial Institutions Tax or insurance taxes).

Regulatory confirmation and mechanics Ohio Admin. Code 5703-29-22 further confirms that a credit for unused franchise tax NOLs is permitted only as prescribed by ORC § 5751.53, subject to sequence and carryforward rules.

Effective period and claims Practitioners must review both the statute and regulatory provisions in effect for the intended claim year, and should note that the window for claiming or using this CAT credit is both time- and fact-limited: unused NOLs from pre-2014 may only offset CAT liability under the mechanics and for the periods authorized by § 5751.53 and related regulations. No provision allows for extension or repurposing of these NOLs once their authorized use period lapses.

Source: Ohio Rev. Code § 5751.53 Source: Ohio Admin. Code 5703-29-22

For tax years before 2014, corporations subject to the Ohio corporate franchise tax were generally required to apportion their business income and net worth to Ohio using a three-factor formula, unless otherwise provided for certain industries (notably utilities and financial institutions, which had special rules).

Three-factor apportionment formula: The default method, codified in Ohio Rev. Code § 5733.05(B), used property, payroll, and sales factors, combined as follows:

• 20% property factor (average value of real and tangible personal property owned or rented and used in Ohio vs. everywhere)
• 20% payroll factor (compensation paid in Ohio vs. everywhere)
• 60% sales factor (sales attributable to Ohio vs. everywhere)

The sum of the weighted factors (property × 20% + payroll × 20% + sales × 60%) produced the corporation’s overall apportionment ratio, which was then applied to total net income (or net worth, as applicable) to determine the Ohio tax base.

Definitions and sourcing rules:

• Property: Included owned/rented real and tangible personal property, valued at original cost.
• Payroll: Included all forms of employee compensation, sourced to Ohio if the individual’s service was performed entirely/primarily in Ohio.
• Sales: Generally included gross receipts from sales of tangible personal property delivered to a purchaser in Ohio; receipts from services were sourced to the state where the greater proportion of the income-producing activity was performed.

Transition notes and exceptions:

• This three-factor formula, with sales factor double-weighted, was in effect by statute for most affected years before full phase-out. Weightings and sourcing details were adjusted through statutory amendments (notably House Bill 66, 126th General Assembly, which began the CAT transition in 2005).
• For certain taxpayers, including financial institutions, different (often single-factor or net worth-only) formulas applied—see Ohio Rev. Code §§ 5733.04, 5733.051.

Terminating provisions: The three-factor apportionment methodology ceased to apply with the repeal of the franchise tax for most taxpayers after tax year 2013. It remains relevant for audits, amended returns, and review of prior period assessments.

Source: Ohio Rev. Code § 5733.05 Source: Ohio Department of Taxation, Corporation Franchise Tax Publication

Not yet human confirmed.

Ohio corporations with unused credits from the repealed corporate franchise tax (CFT) may, in strictly limited cases, transition certain credits for use against Ohio's Commercial Activity Tax (CAT). As of calendar year 2025, practitioners must be aware of important statutory updates and effective dates controlling these legacy-credit transitions.

Key statutory bridge for job creation and job retention credits (JCC/JRC): Ohio Revised Code § 122.171(G) allows any remaining, unused portion of a JCC or JRC originally awarded for franchise tax years to be claimed as a nonrefundable credit against the CAT, provided all project and compliance terms under the original credit agreement remain satisfied. The credit must first be exhausted against any remaining franchise tax liability, with the remainder claimed against CAT. No new carryforward period is created; the credit term continues according to the original franchise tax agreement. This treatment remains unchanged but practitioners should review the specific credit agreement and current Department of Taxation guidance before attempting a CAT claim.

Source: Ohio Rev. Code § 122.171(G)

Limitation of transition for other franchise tax credits: Most other legacy franchise tax credits—including investment, enterprise zone, development zone, and credits granted under Chapter 5733—expire with the repeal of the CFT unless a specific statute provides for transition to the CAT. Notably, the state has not published an all-inclusive list of eligible credits; practitioners must review the relevant credit-granting statute for post-repeal use.

Source: Ohio Rev. Code § 5733.0610

Transition rules for net operating loss (NOL) carryforwards and temporary differences (Material statutory update): Ohio Revised Code § 5751.53 (as last amended and taking effect September 30, 2025) provides a credit mechanism for certain unused, amortizable NOLs that were allowable under the repealed franchise tax regime as of the final taxable year (typically ending before July 1, 2014). This CAT credit is available only under the computation limits and periods set forth in § 5751.53 as amended by HB 96 (136th General Assembly). The effective date—September 30, 2025—is critical for current claims: only credits claimed for open periods and conforming to the amended statute are permitted.

Source: Ohio Rev. Code § 5751.53 (effective 9/30/2025)

Ohio Revised Code § 5751.03(H) (updated through August 8, 2025) explicitly disallows the carryforward of any net operating loss or temporary difference incurred under the former franchise tax regime, except as permitted by § 5751.53. Any other form of carryforward—including through temporary differences—is statutorily prohibited for CAT.

Source: Ohio Rev. Code § 5751.03(H)

Administrative rule: requirements and mechanics Ohio Admin. Code 5703-29-22 governs the order, substantiation, and carryforward rules for CAT credits including those transitioned from the franchise tax. Claims for JCC/JRC and qualifying NOLs under § 5751.53 require documentation of both the original credit/NOL award and continuous compliance with agreement terms. Claims without substantiation may be denied by the Department.

Source: Ohio Admin. Code 5703-29-22

Carryforward terms, expiration, and all transition mechanics are credit- and statute-specific. For credits or NOLs not referenced in updated law or regulation, post-repeal use against the CAT is not authorized as of the current effective dates.

Material statutory amendments effective September 30, 2025, and August 8, 2025, are now incorporated. Practitioners should confirm the most current Ohio Revised Code text and Department guidance.

Not yet human confirmed.

Many Ohio municipalities impose a municipal net profits tax, a local-level tax on corporations (and certain other entities) operating within their borders. This tax remains relevant even after repeal of the state corporate franchise tax, and corporate taxpayers must attend to compliance for both local and, in some cases, centralized state-administered versions of the tax.

Statutory authority and administration:

• The municipal net profits tax is governed by Ohio Revised Code (RC) Chapter 718, which authorizes municipalities and, in some cases, joint economic development districts to impose a tax on the net profits of businesses conducted within their jurisdiction. (RC 718.01, RC 718.04)
• As of tax year 2018, most municipalities allow corporations to elect centralized filing and payment with the Ohio Department of Taxation (RC 718.80–718.95), but certain municipalities have opted out and require direct local filing. The Department does not publish a comprehensive list of opt-outs; practitioners must confirm each jurisdiction's participation status from local sources or check the Department's guidance page.

Who is subject to the tax:

• C corporations, S corporations, partnerships, and limited liability companies taxed as corporations or partnerships under the IRC are subject, unless specifically exempted (see RC 718.01 for definitions and exemptions, including nonprofit organizations). The term "corporation" is defined broadly in RC 718.01(D); single-member LLCs are disregarded if treated as disregarded entities for federal purposes.

Net profits base and apportionment:

• The tax is imposed on the net profits attributable to the municipality (RC 718.04, 718.02). Apportionment is required if business is conducted both within and outside a municipality, using the three-factor apportionment formula specified in RC 718.02 and RC 718.021: property, payroll, and sales, calculated by specified statutory formula.

Tax rates and limits:

• Each municipality sets its own tax rate by ordinance. RC 718.04(A) generally caps the municipal tax rate at 1% unless a higher rate was approved by voters prior to October 1967, or subsequently by ballot. In practice, most rates are between 1% and 3%.

Filing and payment:

• Corporations must file annual net profits returns with each municipal taxing jurisdiction in which they have nexus, or, if eligible, may elect centralized reporting and payment with the Ohio Department of Taxation using the Ohio Business Gateway (current centralized return is form IT 4738). (RC 718.80–718.95) Centralized filing does not cover all municipalities; mandatory local filing may still apply for opt-out cities.

Key statutory sources:

• Imposition and definitions: RC 718.01, RC 718.04
• Apportionment: RC 718.02, RC 718.021
• Centralized administration: RC 718.80–718.95

For additional program detail, including up-to-date rate tables and jurisdictional participation in centralized filing, practitioners should check the Ohio Department of Taxation’s dedicated Municipal Net Profit Tax page.

Source: Ohio Rev. Code Chapter 718 — Municipal Income Taxes Source: Ohio Department of Taxation — Municipal Net Profit Tax

Not yet human confirmed.