Section 5726.61 | Opportunity zone investment tax credit.
Terms used in this section have the same meanings as in section 122.84 of the Revised Code.
A taxpayer may claim a nonrefundable credit against the tax imposed under section 5726.02 of the Revised Code for each person included in the annual report of the taxpayer to whom a certificate is issued under section 122.84 of the Revised Code or is transferred pursuant to that section. The credit equals the amount stated on the certificate and may be claimed for the taxable year that aligns with the calendar year that includes the investment period that was the subject of the application for the certificate under that section or for the ensuing calendar year.
The credit authorized in this section shall be claimed in the order required under section 5726.98 of the Revised Code. If the amount of a credit exceeds the tax otherwise due under section 5726.02 of the Revised Code after deducting all other credits preceding the credit in that order, the excess may be carried forward for not more than five ensuing taxable years. The amount of the excess credit claimed in any such year shall be deducted from the balance carried forward to the next taxable year.
No credit shall be claimed under this section to the extent the credit was claimed under section 5725.38, 5729.21, or 5747.86 of the Revised Code.
Last updated February 21, 2025 at 12:00 PM
Available Versions of this Section
- April 3, 2025 – Enacted by House Bill 315 - 135th General Assembly [ View April 3, 2025 Version ]