Get 2011 Commercial Activity Tax Annual Return And 2012 ... - Formupack

Businesses that will have less than $150,000 in taxable gross receipts for the calendar year are not subject to the tax. However, you must cancel your registration by May 10 of that year to not be subject to the minimum tax.

The CAT applies to all entities regardless of form, (e.g., sole proprietorships, partnerships, LLCs, and all types of corporations). A person with taxable gross receipts of more than $150,000 per calendar year is subject to this tax, which requires such person to register with this department as a taxpayer.

A gross receipts tax, like Ohio's CAT, is based on gross revenue. Ohio's CAT is imposed at a rate of 2.6 mills (0.26 percent) on business gross receipts in excess of $1 million.

The CAT is paid by any person with taxable gross receipts of $150,000 or more in a calendar year. The term “person” includes sole proprietors, partnerships and corporations.

Penalties and Interest The failure to file penalty is the greater of $50 per month, but not exceeding $500, or 5% per month, but not exceeding 50% of the total tax that is due. This penalty will be assessed for each month, or fraction of a month, that the tax return is late.

Ohio's CAT is imposed at a rate of 2.6 mills (0.26 percent) on business gross receipts in excess of $1 million.

Businesses that will have less than $150,000 in taxable gross receipts for the calendar year are not subject to the tax.