5703-7-17 Credit against individual income tax if Ohio adjusted gross income less exemptions is ten thousand dollars or less.

(A) Section 5747.056 of the Revised Code provides that for taxable years beginning in 2005 or thereafter, a credit shall be allowed against the tax imposed by section 5747.02 of the Revised Code for an individual whose Ohio adjusted gross income less exemptions is ten thousand dollars or less. The amount of the credit varies from year to year, and section 5747.056 of the Revised Code sets forth the amount of the credit for each taxable year.

(B) Spouses required by division (E) of section 5747.08 of the Revised Code to file jointly shall be allowed the credit under section 5747.056 of the Revised Code if their joint Ohio adjusted gross income less exemptions is ten thousand dollars or less.

Effective: 03/21/2006
R.C. 119.032 review dates: Exempt
Promulgated Under: 5703.14
Statutory Authority: 5703.05
Rule Amplifies: 5747.056