Loading chat...

OH HB756

Bill

Official Source

Status

Introduced

3/11/2026

Primary Sponsor

Jack Daniels

Click for details

Origin

House of Representatives

136th General Assembly

AI Summary

  • Creates a new nonrefundable income tax credit equal to 7% of qualified research expenses incurred in Ohio that exceed the taxpayer's three-year average of such expenses
  • Allows unused credit amounts to be carried forward for up to seven taxable years
  • Requires taxpayers to retain records substantiating qualified research expenses for four years after filing the return claiming the credit
  • Prevents double-dipping by prohibiting the income tax credit if the same expenses were used for the existing commercial activity tax (CAT) research credit under section 5751.51
  • Applies to taxable years ending on or after the effective date of the act

Legislative Description

Expand research, development tax credit to apply to income tax

Taxation

Last Action

Introduced

3/11/2026

Full Bill Text

No bill text available