Ohio State Taxes For LLC/Flipping

[Mauricio Duarte]

Is anyone familiar with tax filing and withholding requirements in the state of Ohio for house flippers (in an LLC)? More specifically, I'm reading about the two Ohio requirements below for businesses and wondering whether they apply to house flippers or whether there are exceptions.

My partner and I just started last year and our gross receipts were $250k.

Any help would be greatly appreciated.

Oh. Rev. Code Sec. 5747.41General rule is LLCs must withhold, and pay to the Ohio Treasurer, an amount equal to 5% of the distributive share of income, gain, expense or loss allocable to individuals.

Oh. Rev. Code Sec. 5751.01Most LLC's are subject to the Ohio Commercial Activities Tax (CAT).