2006 Ohio Revised Code - 5731.18. Additional estate tax.

§ 5731.18. Additional estate tax.
 

(A)  In addition to the tax levied by section 5731.02 of the Revised Code, a tax is hereby levied upon the transfer of the estate of every person dying on or after July 1, 1968, who, at the time of his death was a resident of this state, in an amount equal to the maximum credit allowable by subtitle B, Chapter 11 of the Internal Revenue Code, for any taxes paid to any state. 

(B)  The tax levied on any estate under this section shall be credited with the amount of the tax levied under section 5731.02 of the Revised Code and with the amount of any estate, inheritance, legacy, or succession taxes actually paid to any state or territory of the United States or to the District of Columbia on any property included in the decedent's gross estate for federal estate tax purposes. 

(C)  The additional tax levied under this section shall be administered, collected, and paid as provided in section 5731.24 of the Revised Code. 
 

HISTORY: 132 v S 326 (Eff 7-1-68); 140 v H 291. Eff 7-1-83; 151 v H 66, § 101.01, eff. 6-30-05.
 

The provisions of § 557.24 of 151 v H 66 read as follows: 

SECTION 557.24. The amendment by this act of sections 5731.01, 5731.05, 5731.131, 5731.14, 5731.18, and 5731.181 of the Revised Code, and the repeal by this act of section 5731.20 of the Revised Code, applies to estates of decedents dying on or after the effective date of those sections as amended by this act. 

The provisions of § 557.03 of 151 v H 66 read as follows: 

SECTION 557.03. A credit is hereby allowed against the additional estate tax imposed by section 5731.18 of the Revised Code on the estate of a decedent who dies on or after January 1, 2002, but before the effective date of that section as amended by this act. The credit shall equal that portion of the additional estate tax imposed by section 5731.18 of the Revised Code that is over and above the additional estate tax that would have been imposed if the tax levied by division (A) of that section had been an amount equal to the maximum credit allowable by section 2011 of the Internal Revenue Code that was in effect and applicable on the date of such decedent's death for any taxes paid to any state. 

The effective date is set by § 612.21 of 151 v H 66. 

 

Effect of Amendments

151 v H 66, effective June 30, 2005, deleted "of 1954, 26 U.S.C. 2011, as amended" following "Internal Revenue Code", and made minor stylistic changes.