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Ohio Free Printable  for 2021 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

Reset Form Do not staple or paper clip Rev. 08/19/20 2020 Ohio IT 4708 Pass-Through Entity Composite Income Tax Return 20160106 Use only black ink and UPPERCASE letters. Amount fields use only whole dollar amounts, no cents. Check here if amended return Reporting Period Start Date Check here if final return Reporting Period End Date Check here if the federal extension was granted FEIN Entity Type: (check only one) Name of pass-through entity S corporation Partnership Limited liability company Other Address (if address change, check box) State City Foreign State Code Do not staple or paper clip 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 Ohio charter or license no. (if S corp) Yes No Questionnaire A. If the pass-through entity is an S corporation, did the pass-through entity pay any compensation or remuneration to any nonresident investors or nonresident members of the investor’s family? If yes, include a list of those individuals (include SSNs) who received such compensation or remuneration and the amount(s)...................................................................... B. If the pass-through entity is, or is treated as, a partnership for federal income tax purposes, did the pass-through entity make any guaranteed payments to any of its partners or equity investors? If yes, include a list of those partners or equity investors (include SSNs and FEINs) who received such guaranteed payments and the amount(s)..................................... Schedule I – Taxable Income, Tax, Payments and Net Amount Due Calculations 1. Total income (loss) (from Schedule II, line 36).................................................................... ......1. 2. Total deductions (from Schedule III, line 41)....................................................................................2. 3. Income (loss) to be allocated and apportioned (line 1 minus line 2)................................... ......3. 4. Net allocable nonbusiness income (loss) everywhere, if any, and gain (loss) described in Ohio Revised Code (R.C.) section 5747.212. (Include explanation and supporting schedules)............... ...... 4. 5. Apportionable income (loss) (line 3 minus line 4)............................................................... ......5. 6. Ohio apportionment ratio (from Schedule IV, line 45)........................................................................................................ 6. 7. Income (loss) apportioned to Ohio (line 5 times line 6)....................................................... ......7. 8. Net nonbusiness income (loss) 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 less than zero, enter zero)............................................9. For Department Use Only Do not write in this area; for department use only. Postmark date Code 2020 IT 4708 – pg. 1 of 7 Rev. 08/19/20 FEIN 2020 Ohio IT 4708 Pass-Through Entity Composite Income Tax Return 20160206 Schedule I – Taxable Income, Tax, Payments and Net Amount Due Calculations...cont. 10. Tax liability before credits (tax rate change, see instructions)...................................................... 10. 11. Nonrefundable business credits (include Schedule E)................................................................. 11. 12. Tax liability after nonrefundable business credits. Line 10 minus line 11. (If less than zero, 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 you are claiming on this return (see instructions).......................................................................................................................... 15. 16. Ohio IT 4708 estimated (UPC) payments you are claiming on an IT 1140 and not on this return (see instructions).......................................................................................................................... 16. 17. Total net Ohio estimated tax payments for 2020 (sum of lines 14 and 15 minus line 16)............ 17. 18. Reserved...................................................................................................................................... 18. 19. Total refundable business credits (from Schedule V, line 52)...................................................... 19. 20. Total of lines 17 and 19................................................................................................................ 20. 21. Overpayment, if any (line 20 minus the sum of lines 12 and 13, but not less than -0-)............... 21. 22. Amount of line 21 to be credited to year 2021 tax liability (if this is an amended return, enter -0-)..................................................................................................... CREDIT TO 202122. 23. Amount of line 21 to be refunded (line 21 minus line 22).............................. YOUR REFUND23. 24. Net amount due, if any (sum of lines 12 and 13 minus line 20, if less than zero, enter zero)............. 24. 25. Interest due on late payment of tax (see instructions)................................................................. 25. 26. Total amount due, if any (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-1(s), 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 Do you authorize your preparer to contact us regarding this return? Yes Mail to: Ohio Dept. of Taxation P.O. Box 181140 Columbus, OH 43218-1140 No Instructions for this form are on our website at tax.ohio.gov. Do not write in this area; for department use only. 2020 IT 4708 – pg. 2 of 7 Rev. 08/19/20 2020 Ohio IT 4708 Pass-Through Entity Composite Income Tax Return 20160306 FEIN If the amount on a line is negative, place a “–” in the box provided. Schedule II – Income and Adjustments Amounts reflected in Schedule II and Schedule III are the combined amounts from the federal Schedule K-1(s) 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-1(s) of participating investors. 7. Ordinary business income (loss)........................................................................................ 27. 2 28. The investors’ shares of expenses and losses incurred in connection with all direct and indirect transactions between the pass-through entity and its related members, including certain investors’ family members......................................................................................................... 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 or (loss) from rental activities other than amount shown on line 27................ 3 31. 32. Portfolio income (loss). See note below. a. Interest income..........................................................................................................................32a. b. Dividends..................................................................................................................................32b. c. Royalties................................................................................................................................... 32c. d. Net short-term capital gain (loss)....................................................................................... 32d. e. 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..................................................................... 32e. f. Other portfolio income (loss).............................................................................................. 32f. 3. Net gain (loss) under Internal Revenue Code (I.R.C.) section 1231.................................. 33. 3 34. Adjustment for I.R.C. sections 168(k) and 179 depreciation expense and any applicable federal conformity adjustments. Complete Schedule VI............................................34. 2/3, 5/6 or 6/6 (check applicable box) 35. Other income (loss) (include explanation and supporting schedule)................................. 35. 36. Total income (loss)(add lines 27-35; enter here and on Schedule I, line1)......................... 36. Do not write in this area; for department use only. 2020 IT 4708 – pg. 3 of 7 Rev. 08/19/20 2020 Ohio IT 4708 Pass-Through Entity Composite Income Tax Return 20160406 FEIN Schedule III – Deductions List only those deductions that have not already been used to reduce any income items set forth in Schedule II. 7. I.R.C. section 179 expense not deducted in calculating line 27................................................ 37. 3 38. Adjustment for I.R.C. sections 168(k) and 179 depreciation expense added back in applicable previous years and federal conformity adjustments. Complete Schedule VI............ 38. 9. Net federal interest and dividends exempt from state taxation................................................. 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 Schedule I, 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 as defined in R.C. section 5725.01. If the pass-through entity is a financial institution, refer to the instructions. Note: All ratios are to be carried 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) = Ratio ÷ x 0 Within Ohio 43. Payroll = Ratio ÷ = Ratio Weighted Ratio = Total Everywhere Weight x 0 Within Ohio 44. Sales Weight ÷ Weighted Ratio = Total Everywhere Weight x 0 Weighted Ratio = Weighted Ratio 45. Total weighted apportionment ratio (add lines 42c, 43 and 44). Enter ratio here and on Schedule I, line 6............45. Note: If the denominator 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. 2020 IT 4708 – pg. 4 of 7 Rev. 08/19/20 FEIN 2020 Ohio IT 4708 Pass-Through Entity Composite Income Tax Return 20160506 Schedule V – Refundable Business Credits Note: Certificates from the Ohio Development Services Agency and/or Ohio IT K-1(s) must be included to verify each refundable credit claimed. 46. Historic preservation credit (include a copy of the credit certificate)...........................................46. 47. 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 Schedule I, line 19).......52. Schedule VI – 168K Bonus Depreciation and 179 Expense Add-back Schedule Check the box if the depreciation add-back has been waived 53. Total current year sections 168K bonus depreciation and 179 expense add-back.....................53. 54. Prior years add-back amount and applicable add-back ratio Column (A) – Amount 54a. Year Prior.................. 54b. 2 Years Prior............. 54c. 3 Years Prior............. 54d. 4 Years Prior............. 54e. 5 Years Prior............. Column (B) – Ratio 2/3 5/6 6/6 2/3 5/6 6/6 2/3 5/6 6/6 2/3 5/6 6/6 2/3 5/6 6/6 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 the box if the investor is included on the return. SSN First name / entity FEIN Percent of ownership M.I. Amount of PTE tax credit Last name Address City State ZIP code Do not write in this area; for department use only. 2020 IT 4708 – pg. 5 of 7 Rev. 08/19/20 FEIN 2020 Ohio IT 4708 Pass-Through Entity Composite Income Tax Return 20160606 Schedule VII – Investor Information...cont. Provide investor information for all (resident and nonresident) investors in the pass-through entity. List investors by highest to lowest ownership percentage. Use an additional sheet, if necessary. Check the box if the investor is included on the return. SSN Percent of ownership FEIN First name / entity M.I. Amount of PTE tax credit Last name Address City State ZIP code Check the box if the investor is included on the return. SSN FEIN First name / entity Percent of ownership M.I. Amount of PTE tax credit Last name Address City State ZIP code Check the box if the investor is included on the return. SSN First name / entity FEIN Percent of ownership M.I. Amount of PTE tax credit Last name Address City State ZIP code Do not write in this area; for department use only. 2020 IT 4708 – pg. 6 of 7 Rev. 08/19/20 2020 Ohio IT 4708 Pass-Through Entity Composite Income Tax Return 20160706 FEIN Schedule VII – Investor Information...cont. Provide investor information for all (resident and nonresident) investors in the pass-through entity. List investors by highest to lowest ownership percentage. Use an additional sheet, if necessary. Check the box if the investor is included on the return. SSN FEIN First name / entity Percent of ownership M.I. Amount of PTE tax credit Last name Address City State ZIP code Check the box if the investor is included on the return. SSN FEIN First name / entity Percent of ownership M.I. Amount of PTE tax credit Last name Address City State ZIP code Check the box if the investor is included on the return. SSN First name / entity FEIN Percent of ownership M.I. Amount of PTE tax credit Last name Address City State ZIP code Do not write in this area; for department use only. 2020 IT 4708 – pg. 7 of 7
Extracted from PDF file 2020-ohio-form-it-4708.pdf, last modified November 2018

More about the Ohio Form IT 4708 Corporate Income Tax Tax Return TY 2020

We last updated the Composite Income Tax Return for Certain Investors in a Pass-Through Entity in March 2021, so this is the latest version of Form IT 4708, fully updated for tax year 2020. 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 2021.

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 ten 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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