Ohio Department of Revenue, Ohio Tax

Ohio Business Corporate Tax, Ohio Personal Income Tax, Ohio Sales Tax Rates

What is the Ohio Corporate net income tax rate(s)?

.26% of your gross revenue. This is called the CAT return, or Commercial Activity Tax. This is on every entity, regardless of it being an LLC, Partnership, or Corporation. It has a $150 minimum payment.

What is the Ohio personal net income tax rate(s)?

There are also a lot of local income taxes with a average rate of 1.82%.

What is the average Ohio sales tax rate(s)?

6.83%. The State has a 5.5% tax, but the average local tax is 1.33% making a total of 6.83%.

Are there standard deductions?

Single:  none
Joint:  none

Are there personal exemptions?

Single:  $1,450
Dependants:  $1,450

What forms do you file for your Ohio taxes?

C corporations:   Form CAT 12 Commercial Activity Tax annual return
S Corporations:   Form CAT 12 and OH20S
Partnerships:   Form CAT 12
Individual:   Form IT-1040

Estimated tax payments?

Form CAT e-file for gross revenue over 1 million. Personal filers must file form IT-1040ES. Ohio follows the IRS standards for estimated payments. If you will owe $500 or more in tax for the current year, you are required to make 90% of the tax due, over quarterly payments. It has to be at least 100% of the previous year, even if you think you won't make as much in the current year.

Ohio Department of Revenue:

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