2006 Ohio Revised Code - 5747.98. Order in which credits to be claimed; credits not to exceed tax due; carry forward of excess.

§ 5747.98. 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 due under section 5747.02 of the Revised Code, a taxpayer shall claim any credits to which the taxpayer is entitled in the following order: 

(1) The retirement income credit under division (B) of section 5747.055 [5747.05.5] of the Revised Code; 

(2) The senior citizen credit under division (C) of section 5747.05 of the Revised Code; 

(3) The lump sum distribution credit under division (D) of section 5747.05 of the Revised Code; 

(4) The dependent care credit under section 5747.054 of the Revised Code; 

(5) The lump sum retirement income credit under division (C) of section 5747.055 [5747.05.5] of the Revised Code; 

(6) The lump sum retirement income credit under division (D) of section 5747.055 [5747.05.5] of the Revised Code; 

(7) The lump sum retirement income credit under division (E) of section 5747.055 [5747.05.5] of the Revised Code; 

(8) The low-income credit under section 5747.056 [5747.05.6] of the Revised Code; 

(9) The credit for displaced workers who pay for job training under section 5747.27 of the Revised Code; 

(10) The campaign contribution credit under section 5747.29 of the Revised Code; 

(11) The twenty-dollar personal exemption credit under section 5747.022 [5747.02.2] of the Revised Code; 

(12) The joint filing credit under division (G) of section 5747.05 of the Revised Code; 

(13) The nonresident credit under division (A) of section 5747.05 of the Revised Code; 

(14) The credit for a resident's out-of-state income under division (B) of section 5747.05 of the Revised Code; 

(15) The credit for employers that enter into agreements with child day-care centers under section 5747.34 of the Revised Code; 

(16) The credit for employers that reimburse employee child care expenses under section 5747.36 of the Revised Code; 

(17) The credit for adoption of a minor child under section 5747.37 of the Revised Code; 

(18) The credit for purchases of lights and reflectors under section 5747.38 of the Revised Code; 

(19) The job retention credit under division (B) of section 5747.058 [5747.05.8] of the Revised Code; 

(20) The credit for purchases of new manufacturing machinery and equipment under section 5747.26 or section 5747.261 [5747.26.1] of the Revised Code; 

(21) The second credit for purchases of new manufacturing machinery and equipment and the credit for using Ohio coal under section 5747.31 of the Revised Code; 

(22) The job training credit under section 5747.39 of the Revised Code; 

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

(24) The credit for the eligible costs associated with a voluntary action under section 5747.32 of the Revised Code; 

(25) The credit for employers that establish on-site child day-care centers under section 5747.35 of the Revised Code; 

(26) The ethanol plant investment credit under section 5747.75 of the Revised Code; 

(27) The credit for purchases of qualifying grape production property under section 5747.28 of the Revised Code; 

(28) The export sales credit under section 5747.057 [5747.05.7] of the Revised Code; 

(29) The credit for research and development and technology transfer investors under section 5747.33 of the Revised Code; 

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

(31) The research and development credit under section 5747.331 [5747.33.1] of the Revised Code; 

(32) The refundable jobs creation credit under division (A) of section 5747.058 [5747.05.8] of the Revised Code; 

(33) The refundable credit for taxes paid by a qualifying entity granted under section 5747.059 [5747.05.9] of the Revised Code; 

(34) The refundable credits for taxes paid by a qualifying pass-through entity granted under division (J) of section 5747.08 of the Revised Code; 

(35) The refundable credit for tax withheld under division (B)(1) of section 5747.062 [5747.06.2] of the Revised Code; 

(36) The refundable credit under section 5747.80 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. 

(B)  For any credit, except the credits enumerated in divisions (A)(32) to (36) of this section and the credit granted under division (I) of section 5747.08 of the Revised Code, the amount of the credit for a taxable 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. Nothing in this chapter shall be construed to allow a taxpayer to claim, directly or indirectly, a credit more than once for a taxable year. 
 

HISTORY: 145 v S 271 (Eff 7-22-94); 145 v H 715 (Eff 7-22-94); 146 v S 8 (Eff 8-23-95); 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 9-29-97); 147 v H 770 (Eff 9-16-98); 148 v S 3 (Eff 10-5-99); 148 v S 4 (Eff 8-19-99); 148 v H 484 (Eff 10-5-2000); 148 v S 287 (Eff 12-21-2000); 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 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.
 

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

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

 

Effect of Amendments

151 v S 321, effective June 6, 2006, deleted (A)(20), pertaining to credit for losses on loans, and redesignated the remaining subdivisions accordingly; in present (A)(36), inserted "refundable" and "under section 5747.80 of the Revised Code", and deleted "if the taxpayer elected a refundable credit under section 150.07 of the Revised Code" from the end; and corrected internal references. 

151 v H 66, effective June 30, 2005, inserted (A)(8) and redesignated the remaining subdivisions accordingly; and corrected internal references in (B). 

150 v H 11, effective May 18, 2005, in (A)(15), substituted "child care" for "child day-care".