Key Tax Filing Deadlines for Ohio Business Owners

Running a business in Ohio comes with a number of responsibilities, and one of the most crucial is meeting tax filing deadlines. Understanding these key dates can help business owners avoid penalties and ensure compliance with state regulations. Below are the essential tax filing deadlines for Ohio business owners.

1. Federal Tax Filing Deadlines

Most Ohio businesses need to adhere to federal tax filing deadlines in addition to state deadlines. For corporations, the deadline to file Form 1120 is the 15th day of the fourth month after the end of the tax year, typically April 15 for calendar year taxpayers. Partnerships must file Form 1065 by March 15, while S Corporations must do so by the same date. Sole proprietorships usually report income on Schedule C, attached to their personal tax return, which is also due by April 15.

2. Ohio Corporate Tax Deadline

Ohio's commercial activity tax (CAT) applies to businesses with gross receipts exceeding $150,000. Businesses must file an annual CAT return by May 10, along with quarterly estimated payments due on the final day of the month following each quarter.

3. Ohio Sales and Use Tax Filing Deadlines

Ohio businesses that collect sales tax must file using the appropriate sales tax return. The deadlines for filing vary based on the amount of tax collected. Monthly filers must submit their returns and payments by the 23rd day of the following month, while quarterly filers have until the last day of the month following the end of the quarter. Annual filers have a deadline of January 31 of the following year.

4. Employer Tax Deadlines

Employers in Ohio must also keep track of payroll tax deadlines. Federal payroll taxes are due quarterly, with filing deadlines on April 30, July 31, October 31, and January 31. Employers must also file Ohio income withholding tax returns along with their quarterly estimated payments on the same dates.

5. Personal Property Tax Filing Deadlines

If your business owns personal property, you need to file a personal property tax return with the local county auditor. The deadline for this filing is typically March 31 each year. Failure to file can result in penalties and increased assessments.

Conclusion

For Ohio business owners, staying on top of these tax filing deadlines is essential to avoid complications and ensure smooth operations. Mark your calendars for these key dates, maintain accurate records, and consult with a tax professional to optimize your tax strategy and compliance.