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)
- QREs for Prior 3 Years
R&D Credit Summary:
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.
There is no special application or approval process for this tax credit. The credit may be claimed on a tax return.