Section 5747.054 | Tax credit based on federal dependent care credit.
As used in this section, "adjusted gross income" means adjusted gross income as defined in section 5747.01 of the Revised Code.
For taxable years ending on or after January 1, 1988, in addition to all other credits allowed by this chapter, a credit shall be allowed against the tax imposed by section 5747.02 of the Revised Code for taxpayers with adjusted gross income of less than thirty thousand dollars; and, for taxable years beginning on or after January 1, 1993, for taxpayers with adjusted gross income of less than forty thousand dollars. The amount of the credit shall equal twenty-five per cent of the federal dependent care credit for which the taxpayer is eligible for the taxable year under section 21 of the Internal Revenue Code, 26 U.S.C.A. 21; except that, for taxable years beginning on or after January 1, 1997, the amount of the credit for a taxpayer with adjusted gross income of less than twenty thousand dollars shall equal the federal credit for which the taxpayer is eligible, in any case without regard to any limitation imposed by section 26 of the Internal Revenue Code, 26 U.S.C.A. 26.
The credit allowed by this section shall be claimed in the order required under section 5747.98 of the Revised Code.
Available Versions of this Section
- June 30, 1997 – House Bill 215 - 122nd General Assembly [ View June 30, 1997 Version ]
- February 15, 2016 – Senate Bill 208 - 131st General Assembly [ View February 15, 2016 Version ]
- October 17, 2019 – Amended by House Bill 166 - 133rd General Assembly [ View October 17, 2019 Version ]