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2021 Ohio Revised Code
Title 7 | Municipal Corporations
Chapter 718 | Municipal Income Taxes
Section 718.15 | Tax Credit for Businesses That Foster New Jobs in Ohio.
Universal Citation: Ohio Rev Code § 718.15 (2021)
Effective: September 17, 2014
Latest Legislation: House Bill 492 - 130th General Assembly
A municipal corporation, by ordinance, may grant a refundable or nonrefundable credit against its tax on income to a taxpayer to foster job creation in the municipal corporation. If a credit is granted under this section, it shall be measured as a percentage of the new income tax revenue the municipal corporation derives from new employees of the taxpayer and shall be for a term not exceeding fifteen years. Before the municipal corporation passes an ordinance granting a credit, the municipal corporation and the taxpayer shall enter into an agreement specifying all the conditions of the credit.
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