SB 8 Reintroduces Ohio Income Tax Credit for Investments in Qualified Opportunity Zone Funds
Qualified Opportunity Zones
Date: February 20, 2019
In October 2018, Representative Schuring introduced HB 727 that provided a 10 percent Ohio income tax credit for investments by a taxpayer of at least $250,000 in an Ohio qualified opportunity fund (OQOF). Thompson Hine submitted a comment letter (dated October 11, 2018) requesting that certain limitations be revised to allow for a broader application of the income tax credit. The Ohio 132nd General Assembly ended without further action on HB 727. Kirk Schuring won the election to become Senator Schuring for the new Ohio 133rd General Assembly and, on February 12, 2019, introduced SB 8, which provides an Ohio income tax credit for investments by a taxpayer of at least $250,000 in an OQOF. Read more.
For more information, please contact:
Francesco A. Ferrante, Partner
Thompson Hine LLP
Phone: 937.443.6740
Mobile: 937.470.0598
Francesco.Ferrante@ThompsonHine.com
Alexis Kim, Associate
Thompson Hine LLP
Phone: 216.566.5732
Alexis.Kim@ThompsonHine.com