The Ohio Quarterly CAT Return filing deadline is Sunday, November 10, 2013, however, since the due date falls on a weekend, the return is due on the next business day, Monday, November 11, 2013.
The commercial activity tax (CAT) is an annual tax imposed on Ohio business entities and certain out of state businesses for the privilege of doing business in Ohio. It is measured by taxable gross receipts from business activities in Ohio. Businesses with Ohio taxable gross receipts of $150,000 or more per calendar year must register for the CAT, file all applicable returns and make all corresponding payments. CAT applies to all types of businesses such as, but not limited to, retailers, service providers and manufacturers. Certain receipts are not taxable receipts, such as interest, dividends, capital gains, wages reported on a W-2, or gifts.
Annual CAT taxpayers are those taxpayers with taxable gross receipts between $150,000 and $1,000,000.
Taxpayers with annual taxable gross receipts in excess of $1,000,000 must file and pay returns on a quarterly basis. Quarterly returns are required to be filed electronically through the Ohio Business Gateway. Quarterly taxpayers are required to pay a $150 annual minimum tax for receipts up to $1,000,000 with their 1st quarter payment. In addition, quarterly taxpayers pay a rate component for taxable gross receipts in excess of $1,000,000.
Beginning in calendar year 2013, quarterly taxpayers shall apply the full $1,000,000 exclusion amount to the first quarter return for that calendar year and may carry forward and apply any unused exclusion amount to subsequent calendar quarters within the same calendar year. Any unused exclusion amount from the calendar may not be carried forward into the next calendar year.
Taxpayers who are not registered for the CAT must register first before filing any return.
Contact Levin Swedler Kennedy – Certified Public Accountants with any questions regarding Ohio CAT compliance.