Corrigan v Testa

Refund Opportunities for Nonresidents of Ohio for Ohio Income Tax on Capital Gain from the Sale of Pass-Through Entity.

Under R.C. 5747.212, Ohio personal income tax is imposed on capital gains realized by out-of-state investors who hold a 20% or greater interest in a pass-through entity or closely held C-corporation doing business in Ohio. Per the statute, the nonresident investor’s gain is apportioned to Ohio according to the three-year average of the entity’s Ohio... Read More