Ohio § 5725.98 Order of claims for tax credits and offsets

Ohio Statutes

§ 5725.98 — Order of claims for tax credits and offsets

Ohio § 5725.98

Title 57Taxation

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

This text of Ohio § 5725.98 (Order of claims for tax credits and offsets) 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. § 5725.98 (2026).

Text

(A)To provide a uniform procedure for calculating the amount of tax imposed by section5725.18of the Revised Code that is due under this chapter, a taxpayer shall claim any credits and offsets against tax liability to which it is entitled in the following order: The credit for an insurance company or insurance company group under section5729.031of the Revised Code; The credit for eligible employee training costs under section5725.31of the Revised Code; The credit for purchasers of qualified low-income community investments under section5725.33of the Revised Code; The nonrefundable job retention credit under division (B) of section122.171of the Revised Code; The nonrefundable credit for investments in rural business growth funds under section122.152of the Revised Code; The nonrefundab

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(A) To provide a uniform procedure for calculating the amount of tax imposed by section5725.18of the Revised Code that is due under this chapter, a taxpayer shall claim any credits and offsets against tax liability to which it is entitled in the following order:

The credit for an insurance company or insurance company group under section5729.031of the Revised Code;

The credit for eligible employee training costs under section5725.31of the Revised Code;

The credit for purchasers of qualified low-income community investments under section5725.33of the Revised Code;

The nonrefundable job retention credit under division (B) of section122.171of the Revised Code;

The nonrefundable credit for investments in rural business growth funds under section122.152of the Revised Code;

The nonrefundable Ohio low-income housing tax credit under section5725.36of the Revised Code;

The nonrefundable affordable single-family home credit under section5725.37of the Revised Code;

The nonrefundable credit for contributing capital to a transformational mixed use development project under section5725.35of the Revised Code;

The nonrefundable opportunity zone investment credit under section5725.38of the Revised Code;

The offset of assessments by the Ohio life and health insurance guaranty association permitted by section3956.20of the Revised Code;

The refundable credit for rehabilitating a historic building under section5725.34of the Revised Code;

The refundable credit for Ohio job retention under former division (B)(2) or (3) of section122.171of the Revised Code as those divisions existed before September 29, 2015, the effective date of the amendment of this section by H.B. 64 of the 131st general assembly;

The refundable credit for Ohio job creation under section5725.32of the Revised Code;

The refundable credit under section5725.19of the Revised Code for losses on loans made under the Ohio venture capital program under sections150.01to150.10of the Revised Code.

(B) For any credit except the refundable credits enumerated in this section, the amount of the credit for a taxable year shall not exceed the tax due after allowing for any other credit that precedes it in the order required under this section. Any excess amount of a particular credit may be carried forward if authorized under the section creating that credit. Nothing in this chapter shall be construed to allow a taxpayer to claim, directly or indirectly, a credit more than once for a taxable year.

Last updated February 19, 2025 at 11:41 AM