Ohio Tax Department Releases 2023 Form IT 1140, Pass-Through Entity, Trust Withholding Tax Return

The Ohio Department of Taxation Jan. 1 released 2023 Ohio IT 1140, Pass-Through Entity and Trust Withholding Tax Return, for individual income taxpayers. The form includes schedules on: 1) reconciliation tax and payments; 2) calculating the pass-through entity’s adjusted qualifying amount of business income and tax due before payments; 3) calculating the adjusted qualifying amount and tax due before payments for nonresident individual beneficiaries of a trust; 4) bonus depreciation and expense add-back under the Internal Revenue Code; and 5) investor information. No refund will be issued for amounts of $1 or less and no payment is required if the ...