The Ohio CAT Ff form is a request form used by businesses to change their filing frequency for the Commercial Activity Tax (CAT). Businesses can choose between quarterly or annual filing frequencies, depending on their taxable gross receipts and preferences.
What are the filing frequency options available on the form?
The form provides two options for filing frequency: quarterly and annual. A taxpayer can choose quarterly filing if they expect to have more than $1 million in taxable gross receipts. If a taxpayer expects to have less than that amount, they can opt for annual filing.
When is the effective date for the new filing frequency?
The effective date of the new filing frequency depends on when the request is approved. For quarterly filing, the change is effective immediately if approved. For annual filing, the request must be approved by the tax commissioner before the due date of the annual minimum tax, which is May 10 each year. If approved after that date, the change will take effect the following calendar year.
What should I do if I am switching from calendar year to calendar quarter filing?
If you are switching from a calendar year filing frequency to a calendar quarter frequency, you can apply prior calendar quarter exclusion amounts to your first quarter return for that calendar year. This means you may benefit from deductions based on your previous filings.
What happens if I do not file this form?
If you do not file the Ohio CAT Ff form and wish to change your filing frequency, you will continue to be subject to your current filing schedule. This could lead to complications, including potential penalties if your business's financial situation no longer aligns with your existing filing frequency.
Is there a penalty for filing the form late?
Filing the Ohio CAT Ff form late may not incur a direct penalty, but it can affect your tax obligations. If the request for annual filing is submitted after the due date of the minimum tax, the change will not take effect until the following year, which may not align with your business's needs.
How do I submit the Ohio CAT Ff form?
You can submit the completed Ohio CAT Ff form by mailing it to the Ohio Department of Taxation, CAT Division, at P.O. Box 16158, Columbus, OH 43216-6158. Alternatively, you can fax it to (614) 644-9641. Make sure to keep a copy for your records.