2020 Ohio Revised Code
Title 57 | Taxation
Chapter 5747 | Income Tax
Section 5747.41 | Withholding Tax on Qualifying Pass-Through Entity or Trust Having Individual Qualifying Investor or Beneficiary.
Effective: March 31, 2021
Latest Legislation: Senate Bill 18 - 134th General Assembly
For the same purposes for which the tax is levied under section 5747.02 of the Revised Code, there is hereby levied a withholding tax on every qualifying pass-through entity having at least one qualifying investor who is an individual and on every qualifying trust having at least one qualifying beneficiary who is an individual. The withholding tax imposed by this section is imposed on the sum of the adjusted qualifying amounts of a qualifying pass-through entity's qualifying investors who are individuals and on the sum of the adjusted qualifying amounts of a qualifying trust's qualifying beneficiaries, at a rate equal to the tax rate imposed on taxable business income under division (A)(4)(a) of section 5747.02 of the Revised Code.
The tax imposed by this section applies only if the qualifying entity has nexus with this state under the Constitution of the United States for any portion of the qualifying entity's qualifying taxable year, and the sum of the qualifying entity's adjusted qualifying amounts exceeds one thousand dollars for the qualifying entity's qualifying taxable year.
Last updated April 20, 2021 at 10:08 AM
