(A) Any term used in this section has the same meaning as in section 122.852 of the Revised Code.

Terms Used In Ohio Code 5726.59

  • Person: includes an individual, corporation, business trust, estate, trust, partnership, and association. See Ohio Code 1.59
  • Taxable year: means the calendar year preceding the year in which an annual report is required to be filed under section 5726. See Ohio Code 5726.01
  • Taxpayer: means a financial institution subject to the tax levied under section 5726. See Ohio Code 5726.01

(B) A taxpayer may claim a refundable credit against the tax imposed under this chapter for each person included in the annual report of the taxpayer that is a certificate owner of a tax credit certificate issued under section 122.852 of the Revised Code. The credit shall be claimed for the taxable year in which the certificate is issued by the director of development. The credit amount equals the amount stated on the certificate or the portion of that amount owned by the certificate owner. The credit shall be claimed in the order required under section 5726.98 of the Revised Code. If the credit amount exceeds the tax otherwise due under section 5726.02 of the Revised Code after deducting all other credits preceding the credit in the order prescribed in section 5726.98 of the Revised Code, the excess shall be refunded to the taxpayer.

Last updated August 31, 2023 at 5:01 PM

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