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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:
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
To get an estimate of the potential value of your unclaimed R&D Tax Credits, try out our credit calculator.
Download our R&D Tax Credit Calculator for Android to see how much you can receive from your qualified R&D tax credit expenses.