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Department Publishes Two Franchise Tax Releases


As you may be aware, the Ohio franchise tax has been phased out over the last several years for many Ohio corporations. The Ohio Department of Taxation issued a release on October 22, 2010, (CFT2010-01) reminding these corporations that they will no longer be required to file or pay in 2011. In (CFT2010-02), issued on the same day, Ohio S corporations were reminded that they will not be required to file information returns with respect to 2011 at the end of this year. Should you have any questions in regards to these matters, please contact Eastman & Smith.