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Ohio Free Printable  for 2022 Ohio Composite Income Tax Return for Certain Investors in a Pass-Through Entity

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Composite Income Tax Return for Certain Investors in a Pass-Through Entity
Form IT 4708

Do not staple or paper clip Rev. 10/01/21 2021 Ohio IT 4708 Pass-Through Entity Composite Income Tax Return 21160102 Use only black ink and UPPERCASE letters. Use whole dollars only. If the amount on a line is negative, place a “-” in the box provided. Check here if amended return FEIN Check here if final return Entity Type: (check only one) Name of pass-through entity Address MM D D Check here if federal extension filed Y Y Reporting Period End Date S corporation Partnership Limited liability company Other MM D D Y Y Check here if address changed City State Foreign State Code Total number of investors Country Code ZIP code Foreign country (if the mailing address is outside the U.S.) Number of investors included on return Foreign postal code Ownership percentage of investors on return Apportionment ratio, line 6 . Do not staple or paper clip Reporting Period Start Date Ohio charter or license no. (if S corp) . Yes No Questionnaire A. S Corporations: Did the S corp pay compensation to any nonresident investors or members of an investor’s family? If YES, include a list of those individuals (including SSNs) and the amount of compensation paid................................................... B. Partnerships and LLCs: Did the Partnership or LLC make guaranteed payments to any nonresident investors or members of an investor’s family? If YES, include a list of those individuals (with FEINs and SSNs) and the amount of guaranteed payment.................................................................................................................................................................................. Schedule I – Taxable Income, Tax, Payments and Net Amount Due Calculations 1. Total income (loss) (from line 36)........................................................................................ ......1. 2. Total deductions (from line 41).........................................................................................................2. 3. Income to be allocated and apportioned (line 1 minus line 2)............................................. ......3. 4. Net allocable nonbusiness income.......................................................................................................... ...... 4. 5. Apportionable income (line 3 minus line 4)......................................................................... ......5. . 6. Ohio apportionment ratio (from line 45)...........................................................................................6. 7. Income apportioned to Ohio (line 5 times line 6)................................................................. ......7. 8. Net nonbusiness income allocated to Ohio and gain (loss) apportioned to Ohio per R.C. section 5747.212. (Include explanation and supporting schedules.).................... .....8. 9. Ohio taxable income (add lines 7 and 8, if negative, enter zero).....................................................9. For Department Use Only Do not write in this area; for department use only. Postmark date Code 2021 IT 4708 – pg. 1 of 8 FEIN 2021 Ohio IT 4708 Rev. 10/01/21 21160202 Schedule I – Taxable Income, Tax, Payments and Net Amount Due Calculations...cont. 0. Tax liability before credits (see instructions for tax rate)............................................................. 10. 1 11. Nonrefundable business credits (include Schedule E)................................................................. 11. 12. Tax liability after nonrefundable business credits. (Line 10 minus line 11. If negative, enter zero)...... 12. 13. Interest penalty on underpayment of estimated tax (include Ohio IT/SD 2210)........................... 13. 14. Ohio IT 4708 UPC payments for the taxable year....................................................................... 14. 15. Ohio IT 1140 estimated (UPC) payments claimed on this return (see instructions)..................... 15. 16. Ohio IT 4708 estimated (UPC) payments claimed on an IT 1140 instead of this return (see instructions).......................................................................................................................... 16. 17. Total net Ohio estimated tax payments for 2021 (sum of lines 14 and 15 minus line 16)............ 17. 18. Prior year overpayment credited to 2021 (see 2020 Ohio IT 4708, line 22)................................ 18. 19. Total refundable business credits (from line 52)........................................................................... 19. 20. Total Ohio tax payments (add lines 17, 18 and 19)...................................................................... 20. 21. Overpayment (line 20 minus sum of lines 12 and 13; If negative, enter zero) If line 21 is a positive amount, continue to line 22, OTHERWISE, continue to line 24........ 21. 22. Amount of line 21 to be credited to year 2022 tax liability (if this is an amended return, enter zero)................................... CREDIT CARRYFORWARD22. 23. Amount of line 21 to be refunded (line 21 minus line 22)..........................................REFUND23. 24. Net amount due (sum of lines 12 and 13 minus line 20, if negative, enter zero)................................. 24. 25. Interest due on late payment of tax (see instructions)................................................................. 25. 26. Total amount due (add lines 24 and 25). Make check payable to Ohio Treasurer of State, include Ohio IT 4708 UPC and place FEIN on check............................. AMOUNT DUE26. If your refund is $1.00 or less, no refund will be issued. If you owe $1.00 or less, no payment is necessary. Sign Here (required): I have read this return. Under penalties of perjury, I declare that, to the best of my knowledge and belief, the return and all enclosures are true, correct and complete. Do not staple or paper clip. Place any supporting documents, including Ohio IT K-1s, after the last page of this return. Pass-through entity officer or agent (print) Title of officer or agent (print) Phone number Signature of pass-through entity officer or agent Date (MM/DD/YY) Preparer’s name (print) Phone number Preparer’s e-mail address PTIN Mail to: Ohio Dept. of Taxation P.O. Box 181140 Columbus, OH 43218-1140 P Do you authorize your preparer to contact us regarding this return? Yes No Instructions for this form are available at tax.ohio.gov Do not write in this area; for department use only. 2021 IT 4708 – pg. 2 of 8 Rev. 10/01/21 2021 Ohio IT 4708 21160302 FEIN Schedule II – Income and Adjustments Amounts reflected in Schedule II and Schedule III are the combined amounts from the federal Schedule K-1s for the taxable year for only those investors who are participating in the filing of this return. Include with this return a copy of the applicable federal 1120S or 1065 and K-1s of participating investors. 27. Ordinary business income (loss)......................................................................................... ....27. 28. Related member adjustments for expenses or losses incurred by the taxpayer........................................28. 29. Guaranteed payments that the pass-through entity made to each investor participating in the filing of this return if such investor directly or indirectly owns at least 20% of the pass through entity...................................................................................................................................... 29. 30. Compensation that the pass-through entity paid to each investor participating in the filing of this return if such investor directly or indirectly owns at least 20% of the pass-through entity. Reciprocity agreements do not apply............................................................................................30. 1. Net income (loss) from rental activities other than amount shown on line 27..................... 3 ....31. 32a. Interest income...........................................................................................................................32a. 32b. Dividends....................................................................................................................................32b. 32c. Royalties.....................................................................................................................................32c. 2d.Net short-term capital gain (loss)....................................................................................... 3 32e.Net long-term capital gain (loss). Exclude from this line any capital loss carryforward amount. Note: If adding lines 32d and 32e results in a net loss, the net allowable loss for the sum of these two lines cannot exceed the product of $3,000 and the number of participating investors included in this return...................................................................... ..32d. 32f. Other portfolio income (loss)............................................................................................... ...32f. ..32e. 3. Net gain (loss) under Internal Revenue Code (I.R.C.) section 1231................................... 3 ....33. 34. Internal Revenue Code §168(k) and §179 depreciation expense add-back. Complete Schedule VI...................................................................................................................34. 2/3, 5/6 or 6/6 (check applicable box) 35. Other income or deduction and federal conformity additions (include explanation and supporting schedule)........................................................................................................... ....35. 36. Total income (loss)(add lines 27-35; enter here and on line1)............................................. ....36. Do not write in this area; for department use only. 2021 IT 4708 – pg. 3 of 8 Rev. 10/01/21 2021 Ohio IT 4708 21160402 FEIN Schedule III – Deductions List only those deductions that have not already been used to reduce any income items included on Schedule II. 7. I.R.C. section 179 expense not deducted in calculating line 27.....................................................37. 3 38. Deduction of prior year §168(k) and §179 depreciation add-backs (complete Schedule VI).........38. 9. Net federal interest/dividends exempt from state taxation & federal conformity adjustments........39. 3 40. Exempt gains from the sale of Ohio state or local government bonds...........................................40. 41. Total deductions (add lines 37-40; enter here and on line 2).........................................................41. Schedule IV – Apportionment Worksheet Use this schedule to calculate the apportionment ratio for a pass-through entity that is not a financial institution. Financial institutions should refer to page 14 of the instructions. Note: Carry all ratios to six decimal places. Total Everywhere Within Ohio 42. Property a) Owned (average cost) b) Rented (annual rental X 8) Within Ohio Total Everywhere Within Ohio Total Everywhere c) Total (lines 42a and 42b) = Within Ohio Ratio . 43. Payroll = Within Ohio = Weight Weighted Ratio x = . . Total Everywhere Ratio ÷ . 44. Sales ÷ Weight Weighted Ratio x = . . Total Everywhere Ratio . ÷ Weight Weighted Ratio x = . . 45. Ohio apportionment ratio (add lines 42c, 43 and 44). Enter ratio here and on line 6...............................................45. . Note: If the “Total Everywhere” of any factor is zero, the weight given to the other factors must be proportionately increased so that the total weight given to the combined number of factors used is 100%, i.e., if no property/payroll, use 25% and 75%; if no sales, use 50% property/payroll; if only one factor, use 100%. Do not write in this area; for department use only. 2021 IT 4708 – pg. 4 of 8 2021 Ohio IT 4708 Rev. 10/01/21 21160502 FEIN Schedule V – Refundable Business Credits Note: Certificates from the Ohio Department of Development and/or Ohio IT K-1s must be included to verify each refundable credit claimed. 46. Refundable Ohio historic preservation credit (include a copy of the credit certificate)................46. 47. Refundable job creation credit and job retention credit (include a copy of the credit certificate) 47. 48 Pass-through entity credit (include a copy of the Ohio IT K-1)....................................................48. 49. Venture capital credit (include a copy of the credit certificate)....................................................49. 50. Motion picture/Broadway theatrical production credit (include a copy of the credit certificate)...50. 51. Reserved.....................................................................................................................................51. 52. Total refundable business credits (add lines 46-50; enter here and on line 19)..........................52. Schedule VI – 168K Bonus Depreciation and 179 Expense Add-back Schedule Check here if the depreciation add-back has been waived. 53. Current year §168(k) and §179 depreciation expense add-back................................................53. 54. Prior years add-back amount and applicable add-back ratio Column (A) – Amount Column (B) – Ratio 2/3 5/6 6/6 54a. Year Prior.................. 2/3 5/6 6/6 54b. 2 Years Prior............. 2/3 5/6 6/6 54c. 3 Years Prior............. 2/3 5/6 6/6 54d. 4 Years Prior............. 2/3 5/6 6/6 54e. 5 Years Prior............. Schedule VII – Investor Information First list the investors whose income is included on the return in order from highest to lowest ownership percentage. Then list all remaining investors from highest to lowest ownership percentage. Use additional sheet, if necessary. Check here if the investor is included on the return. SSN First name / entity FEIN Percent of ownership M.I. Last name . Share of PTE tax (tax credit) Address City State ZIP code Do not write in this area; for department use only. 2021 IT 4708 – pg. 5 of 8 2021 Ohio IT 4708 FEIN Rev. 10/01/21 21160602 Schedule VII – Investor Information...cont. Check here if the investor is included on the return. SSN FEIN First name / entity Percent of ownership M.I. Last name . Share of PTE tax (tax credit) Address City State ZIP code Check here if the investor is included on the return. SSN FEIN First name / entity Percent of ownership M.I. Last name . Share of PTE tax (tax credit) Address City State ZIP code Check here if the investor is included on the return. SSN FEIN First name / entity Percent of ownership M.I. Last name . Share of PTE tax (tax credit) Address City State ZIP code Check here if the investor is included on the return. SSN First name / entity FEIN Percent of ownership M.I. Last name . Share of PTE tax (tax credit) Address City State ZIP code 2021 IT 4708 – pg. 6 of 8 2021 Ohio IT 4708 FEIN Rev. 10/01/21 21160702 Schedule VII – Investor Information...cont. Check here if the investor is included on the return. SSN FEIN First name / entity Percent of ownership M.I. Last name . Share of PTE tax (tax credit) Address City State ZIP code Check here if the investor is included on the return. SSN FEIN First name / entity Percent of ownership M.I. Last name . Share of PTE tax (tax credit) Address City State ZIP code Check here if the investor is included on the return. SSN FEIN First name / entity Percent of ownership M.I. Last name . Share of PTE tax (tax credit) Address City State ZIP code Check here if the investor is included on the return. SSN First name / entity FEIN Percent of ownership M.I. Last name . Share of PTE tax (tax credit) Address City State ZIP code 2021 IT 4708 – pg. 7 of 8 2021 Ohio IT 4708 FEIN Rev. 10/01/21 21160802 Schedule VII – Investor Information...cont. Check here if the investor is included on the return. SSN FEIN First name / entity Percent of ownership M.I. Last name . Share of PTE tax (tax credit) Address City State ZIP code Check here if the investor is included on the return. SSN FEIN First name / entity Percent of ownership M.I. Last name . Share of PTE tax (tax credit) Address City State ZIP code Check here if the investor is included on the return. SSN First name / entity FEIN Percent of ownership M.I. Last name . Share of PTE tax (tax credit) Address City State ZIP code 2021 IT 4708 – pg. 8 of 8
Extracted from PDF file 2021-ohio-form-it-4708.pdf, last modified October 2021

More about the Ohio Form IT 4708 Corporate Income Tax Tax Return TY 2021

We last updated the Composite Income Tax Return for Certain Investors in a Pass-Through Entity in March 2022, so this is the latest version of Form IT 4708, fully updated for tax year 2021. You can download or print current or past-year PDFs of Form IT 4708 directly from TaxFormFinder. You can print other Ohio tax forms here.

Related Ohio Corporate Income Tax Forms:

TaxFormFinder has an additional 82 Ohio income tax forms that you may need, plus all federal income tax forms. These related forms may also be needed with the Ohio Form IT 4708.

Form Code Form Name
IT 4708 UPC Payment Coupon for Pass-Through Entity/Fiduciary Income Tax
Form IT 4708ES Ohio Estimated Income Tax Payment Coupon for Investors in Pass-Through Entities (OBSOLETE)

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 IT 4708 from the Department of Taxation in March 2022.

Show Sources >

Form IT 4708 is an Ohio Corporate Income Tax form. Like the Federal Form 1040, states each provide a core tax return form on which most high-level income and tax calculations are performed. While some taxpayers with simple returns can complete their entire tax return on this single form, in most cases various other additional schedules and forms must be completed, depending on the taxpayer's individual situation, to create a complete income tax return package.

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 IT 4708

We have a total of eleven past-year versions of Form IT 4708 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:


2016 Form IT 4708

PTE_IT4708_02_Return_Final_2016_FS_122016.indd

2015 Form IT 4708

PTE_IT4708_Return_Scannable_Final_2015_FS_112315.indd

Composite Income Tax Return for Certain Investors in a Pass-Through Entity 2014 Form IT 4708

PIT_IT4708_Return_Scannable_Final_2014_FS_122614.indd

Composite Income Tax Return for Certain Investors in a Pass-Through Entity 2013 Form IT 4708

PIT_IT4708_Return_Scannable_Final_2012_FI_112912.indd

2012 Form IT 4708

PIT_IT4708_Return_Scannable_Final_2012_FI_112912.indd

2011 Form IT 4708

PIT_IT4708_Instructions_Final_2011_FS_110911.indd


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