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Ohio_Opportunity_Zone_Tax_Credit.pdf
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🔗 Source: admin.thompsonhine.com
📊 Size: 91 KB
👤 Author: KuebleLA
⬇️ Downloads: 186

Summary

Francesco Ferrante writes to Representative Kirk Schuring regarding HB 727, which proposes a 10% Ohio income tax credit for investments in Opportunity Zone Funds. Ferrante raises two concerns: the tax credit's mechanics may limit its use, and the $250,000 threshold application in pass-through entities. The credit is nonrefundable and cannot be carried over to future years, which may prevent its full use, especially when considering federal tax benefits. Ferrante suggests revisions, such as allowing a carryover of the credit through 2026 or permitting its application against deferred gain. He provides examples illustrating the problems and possible solutions, including the effects of deferred gain, investments not tied to gain, and timing of the Ohio tax credit.

Description

Francesco Ferrante writes to Representative Kirk Schuring regarding HB 727, which proposes a 10% Ohio income tax credit for investments in Opportunity Zone...

Technical Information

  • File Format: PDF
  • File Size: 91 KB
  • Pages: 4
  • Language: EN
  • Author: KuebleLA
  • Total Downloads: 186
  • Last Updated: 4 weeks ago

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