S Corporation With One Shareholder In Ohio
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If this form requires notarization, complete it online through a secure video call—no need to meet a notary in person or wait for an appointment.
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FAQ
Business entities in Ohio are not required to file an annual report. However, certain types of entities and registrations are required to file reports at different intervals.
Ohio S Corp Filing Requirements Be a domestic corporation or limited liability company. Offer only one class of stock. Not be an ineligible corporation (financial institutions, insurance companies, and domestic international sales corporations)
"Qualifying pass-through entities whose equity investors are limited to nonresident individuals, nonresident estates and nonresident trusts can file either Ohio forms IT 1140 or IT 4708. All other qualifying pass-through entities must file Ohio form IT 1140 and may also choose to file Ohio form IT 4708."
LLCs are unlimited. All shareholders of S corporations must be U.S. citizens. LLCs may have international members. S corporations cannot be owned by any other entity, such as another corporation, LLC or partnership; however, LLCs have this possibility.
With certain exceptions, a corporation is treated as having only one class of stock if all outstanding shares of stock of the corporation confer identical rights to distribution and liquidation proceeds. The regulations then elaborate on how to analyze if there are identical distribution and liquidation rights.
Ohio does not have an extension request form, but honors the IRS extension.
An S corporation may each year file a master income tax return, Form IT-1040M, on behalf of and as agent for its electing nonresident shareholders having no Ohio-sourced income other than their distributive share of income from the S Corporation.
