Pass-through entity owner credit

There is hereby allowed a refundable credit against a taxpayer's aggregate tax liability under section 5747.02 of the Revised Code for a taxpayer who is an owner of an electing pass-through entity. The credit shall equal the owner's proportionate share of the lesser of the tax due or paid under section 5747.38 of the Revised Code for the taxable year of the electing pass-through entity that ends in the the taxable year of the taxpayer.

The credit shall be claimed for the taxpayer's taxable year that includes the last day of the electing pass-through entity's taxable year for which the tax levied under that section was paid and in the order required under section 5747.98 of the Revised Code. If the credit exceeds the aggregate amount of tax otherwise due, the excess shall be refunded to the taxpayer.

The tax commissioner may request that a taxpayer claiming a credit under this section furnish information as is necessary to support the claim for the credit under this section, and no credit shall be allowed unless the requested information is provided.

Last updated August 20, 2025 at 4:55 PM