Ohio § 5747.221 Items of income and deductions not to be allocated or apportioned to Ohio

Ohio Statutes

§ 5747.221 — Items of income and deductions not to be allocated or apportioned to Ohio

Ohio § 5747.221

Title 57Taxation

Ch. 5747Income Tax

This text of Ohio § 5747.221 (Items of income and deductions not to be allocated or apportioned to Ohio) 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. § 5747.221 (2026).

Text

(A)As used in this section, "investment pass-through entity" has the same meaning as in section5733.401of the Revised Code.

(B)Except as provided in division (C) of this section, for the purposes of sections5747.20,5747.21, and5747.22of the Revised Code, no item of income or deduction shall be allocated or apportioned to this state to the extent that such item represents the portion of an adjusted qualifying amount for which the withholding tax is not imposed under section5747.41of the Revised Code by reason of division (C) of section5733.401of the Revised Code. This section shall be applied without regard to division (I) of section5733.40of the Revised Code.

(C)If a taxpayer has a direct or indirect investment in an investment pass-through entity that has a direct or indirect investm

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(A) As used in this section, "investment pass-through entity" has the same meaning as in section5733.401of the Revised Code.

(B) Except as provided in division (C) of this section, for the purposes of sections5747.20,5747.21, and5747.22of the Revised Code, no item of income or deduction shall be allocated or apportioned to this state to the extent that such item represents the portion of an adjusted qualifying amount for which the withholding tax is not imposed under section5747.41of the Revised Code by reason of division (C) of section5733.401of the Revised Code. This section shall be applied without regard to division (I) of section5733.40of the Revised Code.

(C) If a taxpayer has a direct or indirect investment in an investment pass-through entity that has a direct or indirect investment in any other pass-through entity, division (B) of this section does not apply to any item of income, gain, deduction, or loss where, under section5747.231of the Revised Code, the item is directly or indirectly attributable to either of the following:

(1) A distributive share of income or gain from a pass-through entity that does not qualify as an investment pass-through entity;

(2) A pass-through entity's income or gain to which division (C) of section5733.401of the Revised Code does not apply.

An indirect investment includes any interest that a person constructively owns on account of the attribution rules set forth in section 267, 318, or 1563 of the Internal Revenue Code.