Ohio Revised Code Search

...this section that is defined in section 122.86 of the Revised Code has the same meaning as defined in that section. (B) For the purpose of encouraging new capital investment in small businesses in this state and thereby promoting the economic welfare of all Ohioans, a nonrefundable credit is allowed against a taxpayer's aggregate tax liability under section 5747.02 of the Revised Code for a taxpayer to whom a small ...

... a tax credit certificate under section 122.91 of the Revised Code. The amount of the credit shall equal the credit amount stated on the certificate. The credit shall be claimed for the taxpayer's most recently concluded taxable year that ended before the issuance date stated on the certificate. The credit shall be claimed in the order required under section 5747.98 of the Revised Code. Any credit amount in excess...

...on have the same meanings as in section 175.16 of the Revised Code. (B) There is hereby allowed a nonrefundable credit against a taxpayer's aggregate tax liability under section 5747.02 of the Revised Code for a taxpayer that is allocated a credit issued by the executive director of the Ohio housing finance agency under section 175.16 of the Revised Code. The credit equals the amount allocated to such taxpayer for...

...on have the same meanings as in section 175.17 of the Revised Code. (B) There is allowed a nonrefundable credit against a taxpayer's aggregate tax liability under section 5747.02 of the Revised Code for a taxpayer that is allocated a credit issued by the executive director of the Ohio housing finance agency under section 175.17 of the Revised Code. The credit equals the amount allocated to such taxpayer for the ta...

... (B) In computing Ohio adjusted gross income, a deduction from federal adjusted gross income is allowed to a contributor for amounts contributed to a homeownership savings account to the extent that the amounts contributed have not already been deducted in computing the contributor's federal or Ohio adjusted gross income for the taxable year. The deduction shall equal the amount of contributions made by the taxpaye...

...on have the same meanings as in section 122.84 of the Revised Code. There is hereby allowed a nonrefundable credit against a taxpayer's aggregate tax liability under section 5747.02 of the Revised Code for a taxpayer who is issued, or to whom is transferred, a tax credit certificate under section 122.84 of the Revised Code. The credit equals the amount stated on the certificate and may be claimed for the taxable ye...

...arned income credit under section 5747.71 of the Revised Code; The nonrefundable credit for education expenses under section 5747.72 of the Revised Code; The nonrefundable credit for donations to scholarship granting organizations under section 5747.73 of the Revised Code; The nonrefundable credit for tuition paid to a nonchartered nonpublic school under section 5747.75 of the Revised Code; The nonrefunda...

... Revised Code by failing to remit state income taxes withheld from an employee shall be penalized as follows: (1) Except as otherwise provided in division (D)(2) of this section, the offender shall be fined not less than one hundred dollars nor more than one thousand dollars, or imprisoned not more than sixty days, or both. (2) If the offender previously has been convicted of or pleaded guilty to a violation of s...

... adopted under one of the following: (1) Former section 5748.03 of the Revised Code as it existed prior to its repeal by Amended Substitute House Bill No. 291 of the 115th general assembly; (2) Section 5748.03 of the Revised Code as enacted in Substitute Senate Bill No. 28 of the 118th general assembly; (3) Section 5748.08 of the Revised Code as enacted in Amended Substitute Senate Bill No. 17 of the 122nd gene...

...and estates as defined in divisions (E)(1)(a) and (2) of section 5748.01 of the Revised Code or taxable income of individuals as defined in division (E)(1)(b) of that section. A copy of the resolution shall be certified to the tax commissioner no later than one hundred days prior to the date of the election at which the board intends to propose a levy under this section. Upon receipt of the copy of the resolution, th...

...A majority of the members of a board of education of a school district levying a tax under section 5748.02 of the Revised Code may adopt a resolution reducing the rate of the tax by a multiple of one-fourth of one per cent. The resolution shall set forth the current rate of the tax, the reduced rate of tax that results from adoption of the resolution, the purpose or purposes for which the tax is levied, the r...

..." (B)(1) If the question submitted to electors proposes a school district income tax only on the taxable income of individuals as defined in division (E)(1)(b) of section 5748.01 of the Revised Code, the form of the ballot shall be modified by stating that the tax is to be levied on the "earned income of individuals residing in the school district" in lieu of the "school district inc...

..., it shall do both of the following: (1) Submit the question to the electors of the district at the next general election; (2) If the rate of one or more property tax levies was reduced for the duration of the income tax levy pursuant to division (B)(2) of section 5748.02 of the Revised Code, request that the county auditor certify to the board, in the same manner as required for a tax levy under section 5705.03 ...

...er. The anticipation notes are Chapter 133. securities and shall be issued as provided in section 133.24 of the Revised Code as if property tax anticipation notes. The notes shall have principal payments during each year after their year of issuance over a period not to exceed five years and, if determined by the board of education, during the year of their issuance. The legislation authorizing issuance of the...

...For a taxpayer sixty-five years of age or older during the taxable year, a credit shall be permitted against the tax otherwise due under this chapter for such year equal to fifty dollars for each return required to be filed under section 5747.08 of the Revised Code for taxes levied under this chapter. The credit allowed under this section shall not exceed the tax otherwise due.

...evying an annual tax on school district income; (2) Issue general obligation bonds for permanent improvements, stating in the resolution the necessity and purpose of the bond issue and the amount, approximate date, estimated rate of interest, and maximum number of years over which the principal of the bonds may be paid; (3) Levy a tax outside the ten-mill limitation to pay debt charges on the bonds and any antici...

...e, levies a tax on the school district income of individuals and estates as defined in divisions (G) and (E)(1)(a) and (2) of section 5748.01 of the Revised Code may replace that tax with a tax on the school district income of individuals as defined in divisions (G)(1) and (E)(1)(b) of section 5748.01 of the Revised Code by following the procedure outlined in, and subject to the conditions specified in, sectio...

... district that levies a school district income tax pursuant to a resolution that will be in effect on and after that effective date shall notify the tax commissioner in writing of all of the following: (1) The name and identification number of each of the school districts involved in the consolidation, designating which is the surviving school district; (2) The effective date of the consolidation; (3) The rate of ...

...twelve-month period that begins when an income interest begins or ends when an income interest ends. (B) "Beneficiary" includes, in the case of a decedent's estate, an heir, legatee, and devisee and, in the case of a trust, an income beneficiary and a remainder beneficiary. (C) "Fiduciary" means a personal representative or a trustee. The term includes an executor, administrator, successor personal representative, ...

...y matter within the scope of sections 5812.07 to 5812.14 of the Revised Code, all of the following apply: (1) A fiduciary shall administer a trust or estate in accordance with the terms of the trust or the will, even if there is a different provision in sections 5812.01 to 5812.52 of the Revised Code. (2) A fiduciary may administer a trust or estate by the exercise of a discretionary power of administration given t...

...fter applying division (A) of section 5812.02 of the Revised Code, that the trustee is unable to comply with division (B) of that section. (B) In deciding whether and to what extent to exercise the power conferred by division (A) of this section, a trustee shall consider all factors relevant to the trust and its beneficiaries, including all of the following factors to the extent they are relevant: (1) The nature, p...

...ine, under the provisions of sections 5812.12 to 5812.47 of the Revised Code that apply to trustees and under division (E) of this section, the amount of net income and net principal receipts received from property specifically given to a beneficiary. The fiduciary shall distribute the net income and net principal receipts to the beneficiary that is to receive the specific property. (B) A fiduciary shall determine t...

...ntitled to receive a portion of the net income equal to the beneficiary's fractional interest in undistributed principal assets, using values as of the distribution date. If a fiduciary makes more than one distribution of assets to beneficiaries to whom this section applies, each beneficiary, including one that does not receive part of the distribution, is entitled, as of each distribution date, to the net income the...

... trust on any of the following dates: (1) The date it is transferred to the trust, in the case of an asset that is transferred to a trust during the transferor's life; (2) The date of a testator's death, in the case of an asset that becomes subject to a trust by reason of a will, even if there is an intervening period of administration of the testator's estate; (3) The date of an individual's death, in the case of...

... one to which division (A) of section 5812.07 of the Revised Code applies, if its due date occurs before a decedent dies in the case of an estate or before an income interest begins in the case of a trust or successive income interest. (B) A trustee shall allocate an income receipt or disbursement to income if its due date occurs on or after the date on which a decedent dies or an income interest begins and if it is...