The Job Creation Tax Credit Program (Ohio)

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Last modified on February 12, 2015.

EZFeed Policy

Place Ohio


   
Applies to States or Provinces Ohio
Name The Job Creation Tax Credit Program (Ohio)
Policy Category Financial Incentive
Policy Type Corporate Tax Incentive
Affected Technologies Biomass/Biogas, Coal with CCS, Concentrating Solar Power, Energy Storage, Fuel Cells, Geothermal Electric, Hydroelectric, Hydroelectric (Small), Natural Gas, Nuclear, Solar Photovoltaics, Wind energy
Active Policy Yes

Implementing Sector State/Province








Start Date 1993


















Program Administrator Ohio Department of Development
Primary Website http://www.development.ohio.gov/bs/bs_jctc.htm



Last Review 2014-09-15


Information Source http://www.development.ohio.gov/bs/bs_otca.htm

http://www.development.ohio.gov/files/bs/JCTCSummary.pdf


Summary

The Ohio Job Creation Tax Credit Servicing site provides assistance to businesses that have previously been approved for a tax credit by the Ohio Tax Credit Authority (Authority).

Projects approved by the Authority are then required to enter into a tax credit agreement, summarizing the commitments and compliance requirements pursuant to the Ohio Revised Code.

The tax credit is based on the state income tax withheld by the taxpayer for new jobs created as a result of new business investment in Ohio. The Authority is charged with reviewing and approving applications and setting the tax credit rate and term. The Authority may grant tax credits under the program allowing companies to receive refundable credits generally up to 75 percent of withheld state income taxes, for a period of up to 15 years.

The tax credit rate and term are determined by the Authority based on the number of jobs to be created, the new payroll to be generated by the project, the fixed asset investment in the project, and the extent of interstate competition for the project.



Policy Contact

Department Ohio Development Services Agency
Division Business Grants, Loans and Tax Credits
Address 77 South High Street
Address 2 P.O. Box 1001
Place Columbus, Ohio
Zip/Postal Code 43216
Phone 800-282-0880
Phone 2 800-848-1300


Website http://www.development.ohio.gov/bs/bs_jctc.htm
     
     

Authorities (Please contact the if there are any file problems.)

Authority 1: Ohio Development Services Agency, Ohio Job Creation Tax Credit
Date Effective 2009-10-17



















References