2006 Ohio Revised Code - 5733.98. Order in which credits to be claimed; credits not to exceed tax due; carry forward of excess.

§ 5733.98. Order in which credits to be claimed; credits not to exceed tax due; carry forward of excess.
 

(A)  To provide a uniform procedure for calculating the amount of tax imposed by section 5733.06 of the Revised Code that is due under this chapter, a taxpayer shall claim any credits to which it is entitled in the following order, except as otherwise provided in section 5733.058 [5733.05.8] of the Revised Code: 

(1) For tax year 2005, the credit for taxes paid by a qualifying pass-through entity allowed under section 5733.0611 [5733.06.11] of the Revised Code; 

(2) The credit allowed for financial institutions under section 5733.45 of the Revised Code; 

(3) The credit for qualifying affiliated groups under section 5733.068 [5733.06.8] of the Revised Code; 

(4) The subsidiary corporation credit under section 5733.067 [5733.06.7] of the Revised Code; 

(5) The savings and loan assessment credit under section 5733.063 [5733.06.3] of the Revised Code; 

(6) The credit for recycling and litter prevention donations under section 5733.064 [5733.06.4] of the Revised Code; 

(7) The credit for employers that enter into agreements with child day-care centers under section 5733.36 of the Revised Code; 

(8) The credit for employers that reimburse employee child care expenses under section 5733.38 of the Revised Code; 

(9) The credit for maintaining railroad active grade crossing warning devices under section 5733.43 of the Revised Code; 

(10) The credit for purchases of lights and reflectors under section 5733.44 of the Revised Code; 

(11) The job retention credit under division (B) of section 5733.0610 [5733.61.10] of the Revised Code; 

(12) The credit for purchases of new manufacturing machinery and equipment under section 5733.31 or section 5733.311 [5733.31.1] of the Revised Code; 

(13) The second credit for purchases of new manufacturing machinery and equipment under section 5733.33 of the Revised Code; 

(14) The job training credit under section 5733.42 of the Revised Code; 

(15) The credit for qualified research expenses under section 5733.351 [5733.35.1] of the Revised Code; 

(16) The enterprise zone credit under section 5709.66 of the Revised Code; 

(17) The credit for the eligible costs associated with a voluntary action under section 5733.34 of the Revised Code; 

(18) The credit for employers that establish on-site child day-care centers under section 5733.37 of the Revised Code; 

(19) The ethanol plant investment credit under section 5733.46 of the Revised Code; 

(20) The credit for purchases of qualifying grape production property under section 5733.32 of the Revised Code; 

(21) The export sales credit under section 5733.069 [5733.06.9] of the Revised Code; 

(22) The credit for research and development and technology transfer investors under section 5733.35 of the Revised Code; 

(23) The enterprise zone credits under section 5709.65 of the Revised Code; 

(24) The credit for using Ohio coal under section 5733.39 of the Revised Code; 

(25) The credit for small telephone companies under section 5733.57 of the Revised Code; 

(26) The credit for eligible nonrecurring 9-1-1 charges under section 5733.55 of the Revised Code; 

(27) For tax year 2005, the credit for providing programs to aid the communicatively impaired under division (A) of section 5733.56 of the Revised Code; 

(28) The research and development credit under section 5733.352 [5733.35.2] of the Revised Code; 

(29) For tax years 2006 and subsequent tax years, the credit for taxes paid by a qualifying pass-through entity allowed under section 5733.0611 [5733.06.11] of the Revised Code; 

(30) The refundable jobs creation credit under division (A) of section 5733.0610 [5733.06.10] of the Revised Code; 

(31) The refundable credit for tax withheld under division (B)(2) of section 5747.062 [5747.06.2] of the Revised Code; 

(32) The refundable credit under section 5733.49 of the Revised Code for losses on loans made to the Ohio venture capital program under sections 150.01 to 150.10 of the Revised Code; 

(33) For tax years 2006, 2007, and 2008, the refundable credit allowable under division (B) of section 5733.56 of the Revised Code. 

(B)  For any credit except the credits enumerated in divisions (A)(30), (31), (32), and (33) of this section, the amount of the credit for a tax year shall not exceed the tax due after allowing for any other credit that precedes it in the order required under this section. Any excess amount of a particular credit may be carried forward if authorized under the section creating that credit. 
 

HISTORY: 145 v S 269 (Eff 7-22-94); 145 v H 715 (Eff 7-22-94); 146 v S 188 (Eff 7-19-95); 146 v H 343 (Eff 3-5-96); 146 v H 441 (Eff 8-22-96); 146 v S 18 (Eff 11-19-96); 147 v H 215 (Eff 6-30-97); 147 v H 770 (Eff 9-16-98); 148 v H 283 (Eff 9-29-99); 148 v S 3 (Eff 7-6-99; 10-5-99); 148 v H 484 (Eff 10-5-2000); 149 v H 405 (Eff 12-13-2001); 149 v S 144 (Eff 3-21-2002); 149 v S 226 (Eff 9-17-2002); 149 v S 180. Eff 4-9-2003; 150 v H 95, § 1, eff. 6-26-03; 150 v H 1, § 1, eff. 7-9-03; 150 v H 11, § 1, eff. 5-18-05; 151 v H 66, § 101.01, eff. 6-30-05; 151 v S 321, § 101.01, eff. 6-6-06; 151 v H 530, § 101.01, eff. 6-30-06.
 

The effective date is set by § 509.03 of 151 v S 321. 

The effective date is set by § 812.03 of 151 v H 530. 

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

The provisions of § 4 of H.B. 11 (150 v  - ) read as follows: 

SECTION 4. * * * Section 5733.98 of the Revised Code is presented in this act as a composite of the section as amended by both Am. Sub. H.B. 1 and Am. Sub. H.B. 95 of the 125th General Assembly. The General Assembly, applying the principle stated in division (B) of section 1.52 of the Revised Code that amendments are to be harmonized if reasonably capable of simultaneous operation, finds that the composites are the resulting versions of the sections in effect prior to the effective date of the sections as presented in this act. 

See provisions, § 210 of HB 215 (147 v  - ), as amended by § 4 of HB 770 (147 v  - ), following RC § 5733.02. 

 

Effect of Amendments

151 v S 321, effective June 6, 2006, deleted (A)(12), pertaining to credit for losses on loans, and redesignated the remaining subdivisions accordingly; and, in present (A)(32), inserted "refundable", and deleted "if the taxpayer elected a refundable credit under section 150.07 of the Revised Code" from the end. 

151 v H 530, effective June 30, 2006, in (A)(28), added "For tax year 2005" to the beginning; added (A)(34); and corrected internal references. 

151 v H 66, effective June 30, 2005, added "For the tax year 2005" to the beginning of (A)(1); deleted (A)(26), pertaining to a research and development credit, inserted present (A)(29) and (A)(30), and redesignated the remaining subdivisions accordingly; and corrected internal references in (B). 

150 v H 11, effective May 18, 2005, in (A)(8), substituted "child care" for "child day-care"; and corrected internal references and made minor stylistic changes. 

H.B. 95, Acts 2003, effective June 26, 2003, inserted (A)(26) through (28) and redesignated the remaining subdivisions; substituted "(A)(29), (30) and (31)" for "(A)(26), (27), and (28)" in (B); and made minor stylistic changes.