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Ohio R&D Tax Credits

R&D Tax Credits

Connect with us to find out how R&D Tax Credits can boost your organization’s performance.

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This post was last updated on April 23rd, 2023 by Casey Barka.

Ohio R&D Tax Credits R&D Tax Credit Eligibility Summary:

Is the R&D Tax Credit Available?:
Yes
No
Eligible Entities:
Deadline for Tax Filing:
Data Required to Compute Credit:
What Information is needed?:

Ohio R&D Tax Credits R&D Tax Credit Guidelines:

Ohio R&D Tax Credits R&D Tax Credit Case Study

A Nebaraska-based manufacturing company recovered $304K from the R&D tax credits.

$

Amount earned in Arizona state tax credits

%

Amount of wages qualifed for a Arizona based manufacturer

$

Total R&D tax credit earned

Key Ohio R&D Tax Credits R&D Tax Rules Changes

2019' - 22
22' and after
2019' - 22
22' and after

Resources

There are many other considerations and exemptions, including what documentation the IRS requires for the R&D tax credits. Stay updated to navigate the new tax laws with confidence.

Ohio R&D Tax Credits

Connect with us to find out how R&D Tax Credits can boost your organization’s performance.

Ready to Maximize Your State Credits?

With just a little info, our Strike Experts can help you start your R&D tax credit journey.

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Ohio R&D Tax Credits

Find out if you qualify for R&D tax credits in Ohio and recharge your business.

Ohio offers the Research and Development Investment Tax Credit, a nonrefundable credit used to offset the Commercial Activity Tax (CAT). In order to qualify, the taxpaying corporation must invest in QREs, as defined in Section 41 of the Internal Revenue Code. Both in-house expenses, such as wages and supplies, and 3rd-party contract expenses qualify.

The credit equals 7% of the amount of QREs in excess of the taxpayer's average investment in Qualifying Research Expenses over the three preceding taxable years. Any excess credit not used for the taxable year in which it is earned may be carried forward for up to seven years. There is no special application or approval process for this tax credit.

Learn more about Ohio's R&D Tax Credit law from the Ohio Laws and Administrative Rules.

R&D Tax Credit Available:

Yes

Eligible Entities:

C-Corporations, S-Corporations, LLCs, Partnerships

Deadline for Tax Filing:

Due with Ohio Tax Return

Data Required to Compute Credit:

Claim Period Qualified R&D Expenses (QREs)

What Information is needed?

QREs for Prior 3 Years

Credit Carryforward:

7 years

The R&D tax credit equals:

  • The Ohio R&D tax credit equals 7% of Ohio qualified R&D expenses over the average of qualified expenses for the three prior taxable years.

Specific Item to Note:

  • There is no special application or approval process for this tax credit. The credit may be claimed on a tax return.

Ready to calculate your R&D tax credits?

To get an estimate of the potential value of your unclaimed R&D Tax Credits, try out our credit calculator.

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Download our R&D Tax Credit Calculator for Android to see how much you can receive from your qualified R&D tax credit expenses.

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