Taxes on Business Income in Ohio

April 13, 2006

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As in every other state, the state of Ohio has various types of taxes. All of these tax types are full of exceptions and extremely specific requirements. Below we have gone through the major tax types that affect small businesses. Our intent is to give you a general understanding of when the various taxes will apply to you and what they will mean to your business.

Franchise tax is required from most corporations doing business in Ohio.
Income tax on business income computed based upon corporate taxable net income is required in Ohio.
Personal income tax, based on a person's income, ranges from 0.712 percent to 7.185 percent of taxable income in Ohio.