Ohio

OH estate tax repealed for deaths on or after Jan 1, 2013 (HB 153)

“The Ohio Estate Tax has been repealed for estates of individuals dying on or after Jan. 1, 2013 (see House Bill 153, 129th General Assembly).”

Note: PDF fetched, quote on page 1. Same PDF: 'no return shall be filed for estates of decedents dying on or after Jan. 1, 2013.' HB 110 (134th GA) later sunset tax on after-discovered property post-2021.

Ohio income tax is a statutory formula: $342 + 2.75% above $26,050; $2,394.32 + 3.125% above $100,000

“For taxable years beginning in 2025, the tax imposed under section 5747.02 of the Revised Code shall equal: $0 for income not exceeding $26,050; $342.00 plus 2.75% of income exceeding $26,050 but not exceeding $100,000; and $2,394.32 plus 3.125% of income exceeding $100,000.”

Note: The $342 entry-level amount and the $2,394.32 upper entry do NOT produce a smooth bracket: there is an $18.69 cliff at $100,000. Municipal income taxes cannot reach portfolio capital gains under RC §718.01 (intangibles exemption). School district taxes (0.25% to 2%) on a 'traditional' base CAN reach capital gains; roughly 200 Ohio districts impose them.

Ohio TY2026: flat 2.75% on nonbusiness income above $26,050 (HB 96 phase-down complete)

“takes the top tax bracket down from 3.5% to 3.125% in tax year 2025 and down to 2.75% in tax year 2026, and into the future”

Note: Quote is the Ohio House release describing HB 96's enacted schedule; RC 5747.02's TY2026-and-after paragraph is the statutory home. The $26,050 zero bracket is retained; the $100,000 tier disappears.

IRC §1212(b): capital losses carry forward only for non-corporate taxpayers; no carryback

“In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.”

Note: IRC §1212(b) limits non-corporate taxpayers to carrying losses forward only ('succeeding taxable year'). IRC §1212(a), which allows a 3-year carryback, applies only to corporations. For conformity states, the federal carryforward amount flows to the state return unchanged.

OH taxes out-of-state muni bond interest; OH bonds exempt Ohio Rev. Code §5747.01(A)(1)

“Add interest or dividends on obligations or securities of any state or of any political subdivision or authority of any state, other than this state or a political subdivision or authority of this state.”

OH taxes out-of-state muni bond interest; OH bonds exempt Ohio Rev. Code §5747.01(A)(1)

“Add interest or dividends on obligations or securities of any state or of any political subdivision or authority of any state, other than this state or a political subdivision or authority of this state.”

Ohio conforms to IRC §1400Z-2 QOZ gain deferral and exclusion

“(A) "Adjusted gross income" or "Ohio adjusted gross income" means federal adjusted gross income, as defined and used in the Internal Revenue Code, adjusted as provided in this section:”

Note: ORC §5747.01(A) defines Ohio adjusted gross income as federal AGI with enumerated adjustments; no §1400Z-2 addback appears among them, so the federal QOZ deferral and exclusion flow into the Ohio base. Ohio HB 14 (effective March 7, 2025) updated the conformity date.

Ohio conforms to IRC §1202 QSBS gain exclusion via rolling IRC conformity

“(A) "Adjusted gross income" or "Ohio adjusted gross income" means federal adjusted gross income, as defined and used in the Internal Revenue Code, adjusted as provided in this section:”

Note: ORC §5747.01(A) defines Ohio adjusted gross income as federal AGI with enumerated adjustments; no §1202 addback appears among them, so federally excluded QSBS gain never enters the Ohio base. Ohio HB 14 (effective March 7, 2025) updated the conformity date.

Ohio subtraction for U.S. obligation interest requires exemption from state income taxation under federal law; FNMA and FHLMC have no such federal bondholder exemption

“'Ohio adjusted gross income' means federal adjusted gross income, with the following modifications: (1) Deduct interest and dividends on obligations of the United States and its territories and possessions or of any authority, commission, or instrumentality of the United States to the extent the interest and dividends are exempt from state income taxes under the laws of the United States.”

Note: Ohio Rev. Code §5747.01(A)(1) requires the interest be 'exempt from state income taxes under the laws of the United States.' FNMA (12 U.S.C. §§1719(e), 1723a(c)) and FHLMC (12 U.S.C. §1455(a)) have no bondholder exemption statute. No Ohio DT named-entity publication found; confidence: medium.

Ohio income tax is a statutory formula: $342 + 2.75% above $26,050; $2,394.32 + 3.125% above $100,000

“For taxable years beginning in 2025, the tax imposed under section 5747.02 of the Revised Code shall equal: $0 for income not exceeding $26,050; $342.00 plus 2.75% of income exceeding $26,050 but not exceeding $100,000; and $2,394.32 plus 3.125% of income exceeding $100,000.”

Note: The $342 entry-level amount and the $2,394.32 upper entry do NOT produce a smooth bracket: there is an $18.69 cliff at $100,000. Municipal income taxes cannot reach portfolio capital gains under RC §718.01 (intangibles exemption). School district taxes (0.25% to 2%) on a 'traditional' base CAN reach capital gains; roughly 200 Ohio districts impose them.

U.S. Treasury interest exempt from Ohio income tax: 31 U.S.C. §3124(a) prohibits state taxation of U.S. government obligations

“Stocks and obligations of the United States Government are exempt from taxation by a State or political subdivision of a State. The exemption applies to each form of taxation that would require the obligation, the interest on the obligation, or both, to be considered in computing a tax.”

Note: 31 U.S.C. §3124(a) preempts state income taxation of U.S. government obligations. Covers T-bills, T-notes, T-bonds, TIPS, and I-bonds. Most states allow a deduction or subtraction by statute cross-referencing this federal preemption.

FHLB and FFCB bond interest exempt from Ohio income tax: federal enabling statutes mandate state tax exemption

“Any security issued under this chapter by a Federal home loan bank, including the stock thereof, shall be exempt from taxation, except taxes upon real estate, by any State, county, municipality, or local taxing authority.”

Note: 12 U.S.C. §1433 (FHLB) and 12 U.S.C. §2023 (FFCB/Farm Credit Act) both mandate state tax exemption for securities issued under their chapters. Contrasts with FNMA (12 U.S.C. §§1719(e), 1723a(c)) and FHLMC (12 U.S.C. §1455(a)) which have no bondholder exemption statute and whose interest is taxable by income-tax states.

Farm Credit Act: notes, bonds, debentures, and other obligations of Farm Credit Banks are instrumentalities of the United States exempt from all State, municipal, and local taxation

“The mortgages held by the Farm Credit Banks and the notes, bonds, debentures, and other obligations issued by the banks shall be considered and held to be instrumentalities of the United States and, as such, they and the income therefrom shall be exempt from all Federal, State, municipal, and local taxation, other than Federal income tax liability of the holder thereof under the Public Debt Act of 1941 (31 U.S.C. 3124).”

Note: 12 U.S.C. §2023 explicitly covers 'the income therefrom' (i.e., interest payments to bondholders), exempting it from all State and local taxation. The only carve-out is federal income tax on the holder. Parallel to 12 U.S.C. §1433 (FHLB Act), which exempts FHLB securities from state taxation. Together §1433 and §2023 mandate state and local tax exemption for both FHLB and FFCB bond interest. Shared across all jurisdictions: a single object reference satisfies buildCitationIndex() identity check.

IRC §1212(b): capital losses carry forward only for non-corporate taxpayers; no carryback

“In the case of a taxpayer other than a corporation, if there is a net capital loss for any taxable year: (1) the excess of the net short-term capital loss over the net long-term capital gain for such year shall be a short-term capital loss in the succeeding taxable year, and (2) the excess of the net long-term capital loss over the net short-term capital gain for such year shall be a long-term capital loss in the succeeding taxable year.”

Note: IRC §1212(b) limits non-corporate taxpayers to carrying losses forward only ('succeeding taxable year'). IRC §1212(a), which allows a 3-year carryback, applies only to corporations. For conformity states, the federal carryforward amount flows to the state return unchanged.

Ohio income tax is a statutory formula: $342 + 2.75% above $26,050; $2,394.32 + 3.125% above $100,000

“For taxable years beginning in 2025, the tax imposed under section 5747.02 of the Revised Code shall equal: $0 for income not exceeding $26,050; $342.00 plus 2.75% of income exceeding $26,050 but not exceeding $100,000; and $2,394.32 plus 3.125% of income exceeding $100,000.”

Note: The $342 entry-level amount and the $2,394.32 upper entry do NOT produce a smooth bracket: there is an $18.69 cliff at $100,000. Municipal income taxes cannot reach portfolio capital gains under RC §718.01 (intangibles exemption). School district taxes (0.25% to 2%) on a 'traditional' base CAN reach capital gains; roughly 200 Ohio districts impose them.

Ohio income tax rate formula applies to all individuals (same schedule all filing statuses; no MFJ brackets)

“If the balance thus obtained is greater than twenty-six thousand fifty dollars, the tax is hereby levied as follows: More than $26,050 but not more than $100,000: $342.00 plus 2.75% of the balance in excess of twenty-six thousand fifty dollars; and more than $100,000: $2,394.32 plus 3.125% of the balance in excess of one hundred thousand dollars.”

Note: ORC §5747.02(A)(3) provides one formula for all individual filers; no separate MFJ threshold. Same thresholds for Single, MFJ, and MFS: maximum marriage penalty on a joint return vs. two singles.

Ohio conforms to the federal capital-loss base; treatment of an imported pre-residency section 1212 carryforward is a structural inference

“the tax imposed by this section on income other than taxable business income shall be measured by Ohio adjusted gross income, less taxable business income and less an exemption”

Note: Ohio Rev. Code §5747.02 measures the tax by Ohio adjusted gross income, which derives from federal adjusted gross income, so the federal section 1212 capital-loss base carries through. No published guidance addresses the imported pre-residency carryforward; that piece stays a structural inference.