Ohio § 5725.34 Tax credit for insurance companies holding rehabilitation tax credit certificate

Ohio Statutes

§ 5725.34 — Tax credit for insurance companies holding rehabilitation tax credit certificate

Ohio § 5725.34

Title 57Taxation

Ch. 5725Financial Institutions; Dealers In Intangibles; Insurance Companies

This text of Ohio § 5725.34 (Tax credit for insurance companies holding rehabilitation tax credit certificate) is published on Counsel Stack Legal Research, covering Ohio primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Ohio Rev. Code Ann. § 5725.34 (2026).

Text

(A)As used in this section, "certificate owner" has the same meaning as in section149.311of the Revised Code.

(B)There is allowed a credit against the tax imposed by section5725.18of the Revised Code for an insurance company subject to that tax that is a certificate owner of a rehabilitation tax credit certificate issued under section149.311of the Revised Code. The credit shall equal twenty-five per cent of the dollar amount indicated on the certificate, but the amount of the credit allowed for any company for any year shall not exceed five million dollars. The credit shall be claimed in the calendar year specified in the certificate and in the order required under section5725.98of the Revised Code. If the credit exceeds the amount of tax otherwise due in that year, the exces

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(A) As used in this section, "certificate owner" has the same meaning as in section149.311of the Revised Code.

(B) There is allowed a credit against the tax imposed by section5725.18of the Revised Code for an insurance company subject to that tax that is a certificate owner of a rehabilitation tax credit certificate issued under section149.311of the Revised Code. The credit shall equal twenty-five per cent of the dollar amount indicated on the certificate, but the amount of the credit allowed for any company for any year shall not exceed five million dollars. The credit shall be claimed in the calendar year specified in the certificate and in the order required under section5725.98of the Revised Code. If the credit exceeds the amount of tax otherwise due in that year, the excess shall be refunded to the company but, if any amount of the credit is refunded, the sum of the amount refunded and the amount applied to reduce the tax otherwise due in that year shall not exceed three million dollars. The company may carry forward any balance of the credit in excess of the amount claimed in that year for not more than five ensuing years, and shall deduct any amount claimed in any such year from the amount claimed in an ensuing year.

(C) An insurance company claiming a credit under this section shall retain the rehabilitation tax credit certificate for four years following the end of the year in which the credit was claimed, and shall make the certificate available for inspection by the tax commissioner upon the request of the tax commissioner during that period.