Ohio § 5747.83 State low-income housing tax credit

Ohio Statutes

§ 5747.83 — State low-income housing tax credit

Ohio § 5747.83

Title 57Taxation

Ch. 5747Income Tax

This text of Ohio § 5747.83 (State low-income housing 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. § 5747.83 (2026).

Text

(A)Terms used in this section have the same meanings as in section175.16of the Revised Code.

(B)There is hereby allowed a nonrefundable credit against a taxpayer's aggregate tax liability under section5747.02of the Revised Code for a taxpayer that is allocated a credit issued by the executive director of the Ohio housing finance agency under section175.16of the Revised Code. The credit equals the amount allocated to such taxpayer for the taxable year that begins in the calendar year for which the designated reporter files the form prescribed by division (I) of section175.16of the Revised Code. The credit shall be claimed in the order required under section5747.98of the Revised Code. If the credit exceeds the taxpayer's aggregate tax due under section5747.02of the Revised Code for that

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(A) Terms used in this section have the same meanings as in section175.16of the Revised Code.

(B) There is hereby allowed a nonrefundable credit against a taxpayer's aggregate tax liability under section5747.02of the Revised Code for a taxpayer that is allocated a credit issued by the executive director of the Ohio housing finance agency under section175.16of the Revised Code. The credit equals the amount allocated to such taxpayer for the taxable year that begins in the calendar year for which the designated reporter files the form prescribed by division (I) of section175.16of the Revised Code.

The credit shall be claimed in the order required under section5747.98of the Revised Code. If the credit exceeds the taxpayer's aggregate tax due under section5747.02of the Revised Code for that taxable year after allowing for credits that precede the credit under this section in that order, such excess shall be allowed as a credit in each of the ensuing five taxable years, but the amount of any excess credit allowed in any such taxable year shall be deducted from the balance carried forward to the ensuing taxable year.

No credit shall be claimed under this section to the extent the credit was claimed under section5725.36,5726.58, or5729.19of the Revised Code.

Last updated August 31, 2023 at 5:07 PM