Ohio Composite Income Tax Return for Certain Investors in a Pass-Through Entity

Composite Income Tax Return for Certain Investors in a Pass-Through Entity
Form IT 4708
Do not staple or paper clip

Rev. 08/08/23

2023 Ohio IT 4708

Pass-Through Entity
Composite Income Tax Return

23160102

Use only black ink and UPPERCASE letters.
Use whole dollars only.
If the amount on a line is negative, place a “-” in the box provided.
Check here if amended return
FEIN

Check here if final return

Entity Type:
(check only one)

Name of pass-through entity

Address 	

MM D D

Check here if federal
extension filed

Y Y

Reporting Period End Date

S corporation	

Partnership

Limited liability company	

Other

MM D D

Y Y

Check here if address changed

City

State

Foreign State Code

Total number of investors

Country Code

ZIP code

Foreign country (if the mailing address is outside the U.S.)

Number of investors
included on return

Foreign postal code

Ownership percentage
of investors on return Apportionment ratio, line 6

.
Do not staple or paper clip

Reporting Period Start Date

Ohio charter or license no. (if S corp)

.
Yes	No	

Questionnaire
A.	 S Corporations: Did the S corp pay compensation to any nonresident investors or members of an investor’s family? If YES,
include a list of those individuals (including SSNs) and the amount of compensation paid...................................................
B.	 Partnerships and LLCs: Did the Partnership or LLC make guaranteed payments to any nonresident investors or members
of an investor’s family? If YES, include a list of those individuals (with FEINs and SSNs) and the amount of guaranteed
payment..................................................................................................................................................................................

Schedule I – Taxable Income, Tax, Payments and Net Amount Due Calculations
	 1.	 Total income (loss) (from line 36)........................................................................................	

......1.

	 2.	 Total deductions (from line 41).........................................................................................................2.
	 3.	 Income to be allocated and apportioned (line 1 minus line 2).............................................	

......3.

	
	 4.	 Net allocable nonbusiness income..........................................................................................................	

...... 4.

	 5.	 Apportionable income (line 3 minus line 4).........................................................................	

......5.

.

	 6.	 Ohio apportionment ratio (from line 45)...........................................................................................6.
	 7.	 Income apportioned to Ohio (line 5 times line 6).................................................................	
	 8.	 Net nonbusiness income allocated to Ohio and gain (loss) apportioned to Ohio
		 per R.C. section 5747.212. (Include explanation and supporting schedules.)....................	

......7.
.....8.

	 9.	 Ohio taxable income (add lines 7 and 8, if negative, enter zero).....................................................9.

For Department Use Only
Do not write in this area; for department use only.
Postmark date

Code

2023 IT 4708 – pg. 1 of 8

2023 Ohio IT 4708
FEIN

Rev. 08/08/23

23160202

Schedule I – Taxable Income, Tax, Payments and Net Amount Due Calculations...cont.
	 0.	Tax liability before credits (see instructions for tax rate)............................................................. 10.
1
	
	11.	 Nonrefundable business credits (include Schedule E)................................................................. 11.
	
	12.	 Tax liability after nonrefundable business credits. (Line 10 minus line 11. If negative, enter zero)...... 12.
	
13.	Interest penalty on underpayment of estimated tax (include Ohio IT/SD 2210)........................... 13.
	
		14.	Ohio IT 4708 estimated (UPC/electronic) payments for the taxable year.................................... 14.
	15.	Ohio IT 1140, IT 4738 estimated (UPC/electronic) payments and prior year IT 1140
		 or IT 4738 overpayment claimed on this return (see instructions)............................................... 15.
	16.	Ohio IT 4708 estimated (UPC/electronic) payments claimed on an IT 1140 instead of
		 this return (see instructions if amending)..................................................................................... 16.
	17.	Total net Ohio estimated tax payments for 2023 (sum of lines 14 and 15 minus line 16)............ 17.
18.	Prior year IT 4708 overpayment credited to 2023 (see 2022 Ohio IT 4708, line 22)................... 18.
	
19.	Total refundable business credits (from line 52)........................................................................... 19.
	20.	 Total Ohio tax payments (add lines 17, 18 and 19)...................................................................... 20.
21.	Overpayment (line 20 minus sum of lines 12 and 13; If negative, enter zero)
		If line 21 is a positive amount, continue to line 22, OTHERWISE, continue to line 24........ 21.
22. Amount of line 21 to be CREDITED toward next year’s liability
		 (if this is an amended return, enter zero)................................... CREDIT CARRYFORWARD22.
23.	Amount of line 21 to be REFUNDED (line 21 minus line 22)...................................REFUND23.
24.	 Net amount due (sum of lines 12 and 13 minus line 20, if negative, enter zero)................................. 24.
25.	Interest due on late payment of tax (see instructions)................................................................. 25.
	26.	Total amount due (add lines 24 and 25). Make check payable to Ohio Treasurer
	of State, include Ohio IT 4708 UPC and write FEIN on check.............................. AMOUNT DUE26.
	

If your refund is $1.00 or less, no refund will be issued. If you owe $1.00 or less, no payment is necessary.

Sign Here (required):

I have read this return. Under penalties of perjury, I declare that, to
the best of my knowledge and belief, the return and all enclosures are true, correct and complete.

Do not staple or paper clip.
Place any supporting documents, including
Ohio IT K-1s, after the last page of this return.

Pass-through entity officer or agent (print) 	
Title of officer or agent (print)	

Phone number

Signature of pass-through entity officer or agent	

Date (MM/DD/YY)

Preparer’s name (print)		

Phone number

Preparer’s e-mail address		

PTIN

P

Check here to authorize your preparer to discuss this return with the Department

Mail to:
Ohio Dept. of Taxation
P.O. Box 181140
Columbus, OH 43218-1140
Instructions for this form
are available at tax.ohio.gov

Do not write in this area; for department use only.

2023 IT 4708 – pg. 2 of 8

2023 Ohio IT 4708
Rev. 08/08/23

23160302

FEIN

Schedule II – Income and Adjustments
Amounts reflected in Schedule II and Schedule III are the combined amounts from the federal Schedule K-1s for the taxable year for only those investors who
are participating in the filing of this return. Include with this return a copy of the applicable federal 1120S or 1065 and K-1s of participating investors.

	27.	Ordinary business income (loss).........................................................................................	

....27.

	28.	 Related member adjustments for expenses or losses incurred by the taxpayer........................................28.
	29.	Guaranteed payments that the pass-through entity made to each investor participating in
		 the filing of this return if such investor directly or indirectly owns at least 20% of the pass		 through entity...................................................................................................................................... 29.
	30.	Compensation that the pass-through entity paid to each investor participating in the filing
		 of this return if such investor directly or indirectly owns at least 20% of the pass-through
		 entity. Reciprocity agreements do not apply............................................................................................30.
	 1.	Net income (loss) from rental activities other than amount shown on line 27..................... 	
3
....31.
	
32a. Interest income...........................................................................................................................32a.
32b. Dividends....................................................................................................................................32b.
	
	32c. Royalties.....................................................................................................................................32c.
	 2d.Net short-term capital gain (loss)....................................................................................... 	
3
	32e.Net long-term capital gain (loss). Exclude from this line any capital loss carryforward
		amount. Note: If adding lines 32d and 32e results in a net loss, the net allowable loss
		 for the sum of these two lines cannot exceed the product of $3,000 and the number of
		 participating investors included in this return......................................................................	

..32d.

..32e.

	32f.	 Reserved.......................................................................................................................................32f.
	 3.	Net gain (loss) under IRC §1231 ........................................................................................	
3
....33.
	34.	 IRC §168(k) bonus depreciation and §179 expense add-back.
		 Complete Schedule VI...................................................................................................................34.
	 	
2/3,
5/6 or
6/6 (check applicable box)
35.	Other income or deduction and federal conformity additions (include explanation and
		 supporting schedule)...........................................................................................................	

....35.

36. Total income (loss)(add lines 27-35; enter here and on line 1)............................................	

....36.

Do not write in this area; for department use only.

2023 IT 4708 – pg. 3 of 8

2023 Ohio IT 4708
Rev. 08/08/23

23160402

FEIN

Schedule III – Deductions
List only those deductions that have not already been used to reduce any income items included on Schedule II.
	 7.	IRC §179 expense not deducted in calculating line 27..................................................................37.
3
	38.	Deduction of prior year IRC §168(k) bonus depreciation and §179 expense add-backs
		 (complete Schedule VI)..................................................................................................................38.
		39.	Net federal interest/dividends exempt from state taxation & federal conformity adjustments........39.
	
40.	Exempt gains from the sale of Ohio state or local government bonds...........................................40.
	
	41.	Total deductions (add lines 37-40; enter here and on line 2).........................................................41.

Schedule IV – Apportionment Worksheet
Use this schedule to calculate the apportionment ratio for a pass-through entity that is not a financial institution. Financial institutions should refer
to page 14 of the instructions. Note: Carry all ratios to six decimal places.
Total Everywhere
Within Ohio
42. 	Property
		 a) Owned (original cost)
	
		 b) Rented (annual rental X 8)

Within Ohio

Total Everywhere

Within Ohio

Total Everywhere

		 c) Total (lines 42a and 42b)

=
Within Ohio

Ratio

.

	
	43. 	 Payroll
	

=
Within Ohio

=

Weight

Weighted Ratio

x	=
.

.

Total Everywhere

Ratio

÷

.

	44. 	 Sales
	

÷

Weight

Weighted Ratio

x	=
.

.

Total Everywhere

Ratio

.

÷

Weight

Weighted Ratio

x	=
.

.

	45. 	Ohio apportionment ratio (add lines 42c, 43 and 44). Enter ratio here and on line 6...............................................45.

.

Note: If the “Total Everywhere” of any factor is zero, the weight given to the other factors must be proportionately increased so that the total weight given to the
combined number of factors used is 100%, i.e., if no property/payroll, use 25% and 75%; if no sales, use 50% property/payroll; if only one factor, use 100%.

Do not write in this area; for department use only.

2023 IT 4708 – pg. 4 of 8

2023 Ohio IT 4708
Rev. 08/08/23

23160502

FEIN

Schedule V – Refundable Business Credits
Note: Certificates from the Ohio Department of Development and/or Ohio IT K-1s must be included to verify each refundable credit claimed.
	46.	 Refundable Ohio historic preservation credit (include a copy of the credit certificate)................46.
	
	47.	Refundable job creation credit and job retention credit (include a copy of the credit certificate)	47.
	
	48	 Pass-through entity credit (include a copy of the Ohio IT K-1)....................................................48.
	
	49.	Venture capital credit (include a copy of the credit certificate)....................................................49.
	
	50.	Motion picture/Broadway theatrical production credit (include a copy of the credit certificate)...50.
51.	Reserved.....................................................................................................................................51.
	
	52.	Total refundable business credits (add lines 46-50; enter here and on line 19)..........................52.

Schedule VI – IRC § 168(k) Bonus Depreciation and § 179 Expense Add-back Schedule
		 Check the box if partial or full depreciation add-back has been waived.
53. Current year IRC §168(k) bonus depreciation and §179 expense add-back..............................53.
54. Prior years add-back amount and applicable add-back ratio

Column (A) – Amount

Column (B) – Ratio

										

2/3
5/6
6/6
	54a. Year Prior..................							
		
										
2/3
5/6
6/6
			
54b. 2 Years Prior.............							
			
										
2/3
5/6
6/6
	54c. 3 Years Prior.............							
										
										
2/3
5/6
6/6
	54d. 4 Years Prior.............							
																
			
2/3
5/6
6/6
	54e. 5 Years Prior.............						

Schedule VII – Investor Information
First list the investors whose income is included on the return in order from highest to lowest ownership percentage. Then list all remaining investors from highest
to lowest ownership percentage. Use additional sheets, if necessary.
Check here if the investor is included on the return.
SSN

First name / entity

FEIN

Percent of ownership

M.I.

Last name

.

Share of PTE tax (tax credit)

Address
City

State

ZIP code

Do not write in this area; for department use only.

2023 IT 4708 – pg. 5 of 8

2023 Ohio IT 4708
FEIN

Rev. 08/08/23

23160602

Schedule VII – Investor Information...cont.
Check here if the investor is included on the return.
SSN

FEIN

First name / entity

Percent of ownership
M.I.

Last name

.

Share of PTE tax (tax credit)

Address
City

State

ZIP code

Check here if the investor is included on the return.
SSN

FEIN

First name / entity

Percent of ownership

M.I.

Last name

.

Share of PTE tax (tax credit)

Address
City

State

ZIP code

Check here if the investor is included on the return.
SSN

FEIN

First name / entity

Percent of ownership

M.I.

Last name

.

Share of PTE tax (tax credit)

Address
City

State

ZIP code

Check here if the investor is included on the return.
SSN

First name / entity

FEIN

Percent of ownership

M.I.

Last name

.

Share of PTE tax (tax credit)

Address
City

State

ZIP code

2023 IT 4708 – pg. 6 of 8

2023 Ohio IT 4708
FEIN

Rev. 08/08/23

23160702

Schedule VII – Investor Information...cont.
Check here if the investor is included on the return.
SSN

FEIN

First name / entity

Percent of ownership
M.I.

Last name

.

Share of PTE tax (tax credit)

Address
City

State

ZIP code

Check here if the investor is included on the return.
SSN

FEIN

First name / entity

Percent of ownership

M.I.

Last name

.

Share of PTE tax (tax credit)

Address
City

State

ZIP code

Check here if the investor is included on the return.
SSN

FEIN

First name / entity

Percent of ownership

M.I.

Last name

.

Share of PTE tax (tax credit)

Address
City

State

ZIP code

Check here if the investor is included on the return.
SSN

First name / entity

FEIN

Percent of ownership

M.I.

Last name

.

Share of PTE tax (tax credit)

Address
City

State

ZIP code

2023 IT 4708 – pg. 7 of 8

2023 Ohio IT 4708
FEIN

Rev. 08/08/23

23160802

Schedule VII – Investor Information...cont.
Check here if the investor is included on the return.
SSN

FEIN

First name / entity

Percent of ownership
M.I.

Last name

.

Share of PTE tax (tax credit)

Address
City

State

ZIP code

Check here if the investor is included on the return.
SSN

FEIN

First name / entity

Percent of ownership

M.I.

Last name

.

Share of PTE tax (tax credit)

Address
City

State

ZIP code

Check here if the investor is included on the return.
SSN

First name / entity

FEIN

Percent of ownership

M.I.

Last name

.

Share of PTE tax (tax credit)

Address
City

State

ZIP code

2023 IT 4708 – pg. 8 of 8