What is the minimum fee for corporation franchise tax?
For taxable years ending on or after June 26, 2003, the minimum franchise tax fee is $1,000 if (i) the sum of the taxpayer’s gross receipts from its activities within and without Ohio during the taxable year equals or exceeds $5 million, or (ii) the total number of the taxpayer’s employees within and without Ohio at any time during the taxable year equals or exceeds 300. In determining whether or not the taxpayer’s gross receipts and number of employees equal or exceed those 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. Furthermore, the term “gross receipts” as used here, includes receipts that generate nonbusiness income and receipts from the sale of capital assets and IRC section 1231 assets whether those sales generate business income or nonbusiness income.
For taxable years ending on or after June 26, 2003, the minimum franchise tax fee is $1,000 if (i) the sum of the taxpayer’s gross receipts from its activities within and without Ohio during the taxable year equals or exceeds $5 million, or (ii) the total number of the taxpayer’s employees within and without Ohio at any time during the taxable year equals or exceeds 300. In determining whether or not the taxpayer’s gross receipts and number of employees equal or exceed those 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. Furthermore, the term “gross receipts” as used here, includes receipts that generate nonbusiness income and receipts from the sale of capital assets and IRC section 1231 assets whether those sales generate business income or nonbusiness income. The minimum fee
For taxable years ending on or after June 26, 2003, the minimum franchise tax fee is $1,000 if (i) the sum of the taxpayer’s gross receipts from its activities within and without Ohio during the taxable year equals or exceeds $5 million, or (ii) the total number of the taxpayer’s employees within and without Ohio at any time during the taxable year equals or exceeds 300. In determining whether or not the taxpayer’s gross receipts and number of employees equal or exceed those 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. Furthermore, the term “gross receipts” as used here, includes receipts that generate nonbusiness income and receipts from the sale of capital assets and IRC section 1231 assets whether those sales generate business income or nonbusiness income. The minimum fee
