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Ohio Free Printable fit_cs for 2020 Ohio Financial Institutions Tax (FIT) Credit Schedule

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Financial Institutions Tax (FIT) Credit Schedule
fit_cs

FIT CS Rev. 1/18 page 1 P.O. Box 16158 Columbus, OH 43216-6158 Financial Institutions Tax (FIT) Credit Schedule FIT account number (of reporting person) FEIN/SSN Reporting person’s name Street address (number and street) City State ZIP code Report tax year Credit Refundable or Nonrefundable Revised Code Section Carryforward Period Tax Year the Credit Can Be Used Against the FIT New markets Nonrefundable 5726.54 tax credit 4 ensuing tax years* Tax year beginning on Jan. 1, 2014 Credit for qualified Nonrefundable 5726.56 research expenses 7 ensuing tax years* Tax year beginning on Jan. 1, 2014 Qualifying dealers Nonrefundable 5726.57 N/A in intangibles tax credit This credit is only available for tax year 2014 Jobs retention tax Nonrefundable 5726.50 (B) & 122.171 credit Tax year beginning on Jan. 1, 2014 3 succeeding taxable years Jobs creation tax Refundable 5726.50(A) & 122.17 N/A credit Tax year beginning on Jan. 1, 2014 Historic preservation Refundable/ 5726.52 5 ensuing tax tax credit Nonrefundable years** Credit for losses on Refundable 5726.53 N/A loans made under the Ohio venture capital program Tax year beginning on Jan. 1, 2014 Motion picture Refundable 5726.55 N/A production tax credit Tax year beginning on Jan. 1, 2014 Jobs retention tax Refundable 5726.50(A) & 122.171 N/A credit Tax year beginning on Jan. 1, 2014 Tax year beginning on Jan. 1, 2014 *Unused credits may be carried forward from corporation franchise tax. **Unused credits may be carried forward from dealer in intangibles tax. If any amount of the credit is refunded, the sum of the amount refunded and the amount applied to reduce the tax otherwise due for that year shall not exceed $3 million. The taxpayer may then carry forward any remaining credit amount as a nonrefundable credit for not more than five ensuing tax years. FIT CS Rev. 1/18 Page 2 Credit Schedule (If credits are being claimed by members of an affiliated group, a separate schedule is required for each entity that is claiming a credit.) Entity entitled to credit: Name FEIN FIT account number Nonrefundable Credits Must include credit certificate received from the Ohio Development Services Agency. A B C D Opening Unused Credit Balance Credit Earned During Current Reporting Period Credits Claimed During Current Reporting Period Closed Unused Credit Balance 1. Job retention tax credit 2. New markets tax credit 3. Qualified research expenses credit 4. Historic preservation tax credit 5. Qualifying dealers in intangibles tax credit (2014 only) N/A N/A Refundable Credits Must include credit certificate received from the Ohio Development Services Agency. 1. Historic preservation tax credit – Schedule B, line 1.................................................................................................1. 2. Jobs retention or jobs creation tax credit – Schedule B, line 2..................................................................................2. 3. Tax credit for losses on loans made under the Ohio venture capital program – Schedule B, line 3..........................3. 4. Ohio motion picture production tax credit – Schedule B, line 4.................................................................................4. 5. Total of lines 1 through 4...........................................................................................................................................5. Declaration and Signature (An officer or managing agent of the corporation must sign this declaration.) I declare under penalties of perjury that this report (including any accompanying schedule or statement) has been examined by me and to the best of my knowledge and belief is a true, correct and complete return and report, and that this corporation has not, during the preceding year, except as permitted by Ohio Revised Code sections 3517.082, 3599.03 and 3599.031, directly or indirectly paid, used or offered, consented, or agreed to pay or  Date (MM/DD/YY) use any of its money or property for or in aid of or opposition to a political party, a candidate for election or nomination to public office, or a political action committee, legislation campaign fund, or organization that supports or opposes any such candidate or in any manner used any of its money for any partisan political purpose whatsoever, or for reimbursement or indemnification of any person for money or property so used. Signature of officer or managing agent Contact phone number E-mail Title
Extracted from PDF file 2019-ohio-form-fit-cs.pdf, last modified January 2018

More about the Ohio Form FIT CS Corporate Income Tax Tax Credit TY 2019

We last updated the Financial Institutions Tax (FIT) Credit Schedule in March 2020, so this is the latest version of Form FIT CS, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form FIT CS directly from TaxFormFinder. You can print other Ohio tax forms here.

Other Ohio Corporate Income Tax Forms:

TaxFormFinder has an additional 82 Ohio income tax forms that you may need, plus all federal income tax forms.

Form Code Form Name
Form IT 1041 Fiduciary Income Tax Return
Form D 5 Notification of Dissolution or Surrender
IT 4708 UPC Payment Coupon for Pass-Through Entity/Fiduciary Income Tax
Form IT 1140P Ohio Withholding Tax Payment Coupon for Pass-Through Entities and Trusts
Form FIT REF Application for Financial Institutions Tax Refund

Download all OH tax forms View all 83 Ohio Income Tax Forms


Form Sources:

Ohio usually releases forms for the current tax year between January and April. We last updated Ohio Form FIT CS from the Department of Taxation in March 2020.

Show Sources >

Form FIT CS is an Ohio Corporate Income Tax form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.

About the Corporate Income Tax

The IRS and most states require corporations to file an income tax return, with the exact filing requirements depending on the type of company.

Sole proprietorships or disregarded entities like LLCs are filed on Schedule C (or the state equivalent) of the owner's personal income tax return, flow-through entities like S Corporations or Partnerships are generally required to file an informational return equivilent to the IRS Form 1120S or Form 1065, and full corporations must file the equivalent of federal Form 1120 (and, unlike flow-through corporations, are often subject to a corporate tax liability).

Additional forms are available for a wide variety of specific entities and transactions including fiduciaries, nonprofits, and companies involved in other specific types of business.

Historical Past-Year Versions of Ohio Form FIT CS

We have a total of six past-year versions of Form FIT CS in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2015 Form FIT CS

FIT_CS_GEN_FS_012216.indd

Financial Institutions Tax (FIT) Credit Schedule 2014 Form FIT CS

FIT_CS_GEN_FS_070714.indd


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