Overview

Offers a variety of benefits to Ohio taxpayers who invest in small, research and development and technology-oriented forms.

Benefits

Provides a tax credit for taxpayers that invest in small, Ohio-based technology companies.

The amount of the tax credit is 25% (or 30% in some limited cases) of the amount invested by the taxpayer. The maximum investment to which this credit may be applied is $250,000 (or $300,000).

The credit may be claimed against personal income tax, commercial activity tax, public utility excise tax or the dealers in intangibles tax.

Eligibility

Businesses primarily focused on research and development, technology transfer, or the application of a new technology.

Business must have gross revenues less than $1 million, or net book value of less than $1 million, at the end of most recent fiscal year.

Principal place of business and 1/2 of its gross assets and employees must be in Ohio.

Business must have received less than $1 million in investments that have qualified for the tax credit.

Rates/Terms

Investors may reduce their state taxes by up to 25% of amount invested.

Contact

Youngstown/Warren Regional Chamber at 330.392.6140

Technology Division (614) 466-3887 or (800) 848-1300 or Ohio's Thomas Edison Program