Ohio § 5725.38 Opportunity zone investment tax credit

Ohio Statutes

§ 5725.38 — Opportunity zone investment tax credit

Ohio § 5725.38

Title 57Taxation

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

This text of Ohio § 5725.38 (Opportunity zone investment tax credit) 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. § 5725.38 (2026).

Text

Terms used in this section have the same meanings as in section122.84of the Revised Code.

There is allowed a nonrefundable credit against the tax imposed by section5725.18of the Revised Code for a domestic insurance company that is issued, or to which is transferred, a tax credit certificate under section122.84of the Revised Code. The credit equals the amount stated on the certificate and may be claimed for 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. For a credit issued during the July application round each year, the credit may also be claimed for the preceding calendar year. A taxpayer applying a credit for the preceding calendar year shall file an amended return or

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Terms used in this section have the same meanings as in section122.84of the Revised Code.

There is allowed a nonrefundable credit against the tax imposed by section5725.18of the Revised Code for a domestic insurance company that is issued, or to which is transferred, a tax credit certificate under section122.84of the Revised Code. The credit equals the amount stated on the certificate and may be claimed for 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. For a credit issued during the July application round each year, the credit may also be claimed for the preceding calendar year. A taxpayer applying a credit for the preceding calendar year shall file an amended return or apply that amendment on the taxpayer's original return, for that year.

The credit authorized in this section shall be claimed in the order required under section5725.98of the Revised Code. If the amount of a credit exceeds the tax otherwise due under section5725.18of 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 calendar years. The amount of the excess credit claimed in any such year shall be deducted from the balance carried forward to the next calendar year.

No credit shall be claimed under this section to the extent the credit was claimed under section5726.61,5729.21, or5747.86of the Revised Code.

Last updated July 23, 2025 at 4:08 PM