FAQ: Frequently Asked Questions For Ohio
Ohio Corporations
Corporate Name Endings
Corporation Requirements
Taxes and Fees
License Requirements
Corporate Name Endings
Corporation Requirements
Director Information
Officer Information
Stock Information
Corporate Records
Taxes and Fees
Initial & Annual Statements
Taxes
S Corporation
License Requirements
the corporation franchise tax for each calendar year (tax year) that on the
first day of January of that calendar year the corporation:
Corporate Name Endings
Corporation Requirements
Taxes and Fees
License Requirements
Corporate Name Endings
- The name shall contain the word "Company," "Corporation,"
"Incorporated," or the abbreviation "Co.," "Corp.," or "Inc." The name
must be distinguishable from the name of another domestic or foreign
corporation authorized to do business in the state, or from any trade
name. The name shall not contain language implying it is connected
with a government agency of the United States.
Corporation Requirements
Director Information
- Minimum Number - Not less than three, unless there are only one or
two shareholders of record; then the number of directors may be less
than three but not less than the number of shareholders. - Residence Requirements - No provision.
- Age Requirements - Directors must be a natural person at least 18
years of age. - Directors are not required to be listed in the articles of incorporation.
Officer Information
- Officers are not required to be listed in the articles of incorporation.
Stock Information
- An increase in shares may cause an increase in initial filing fees.
Corporate Records
- The corporation must keep books and records readily available for
inspection. No particular location is required.
Taxes and Fees
Initial & Annual Statements
- Franchise Tax Report is for a corporation organized for profit and is
subject to the corporation franchise tax for each calendar year (tax
year) that on the first day of January of that calendar year the
corporation *
Taxes
- For more information on taxes, visit http://tax.ohio.gov/
S Corporation
- Ohio recognizes S Corporations.
License Requirements
- Ohio requires that you obtain a license and pay a fee if operating
certain types of businesses in the state. The following is a partial list: - For most taxpayers, the corporation franchise tax will ratably phase out
over the five franchise tax years 2006 through 2010 (taxable years
ending in 2005 through 2009). During this same period Ohio’s new
commercial activity tax (CAT) will phase in.
the corporation franchise tax for each calendar year (tax year) that on the
first day of January of that calendar year the corporation:
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