Ohio estate tax

The state of Ohio imposes an estate tax on the transfer of assets from resident decedents (or on Ohio assets of nonresidents). The tax rates are shown in the table below but because of tax credits, the effective lower limit on taxable estates is currently $338,333. Ohio also allows a "marital deduction" equal to the net value of any asset passing to the surviving spouse.

In 2005, another inheritance-related tax, called the Ohio additional estate tax or "pick-up tax", was eliminated[1] (see entry at "sponge tax").

Though the state enforces the tax (through its administrative officers in the counties) and receives the tax, it retains only 20% of the tax and passes the rest on to the townships or municipalities associated with the resident decedent or the resident decedent's real property. Therefore, though the tax has been considered a progressive tax on inherited Ohio fortunes, most of the revenue benefits have accrued to villages and cities with higher per capita incomes and net worths and therefore the tax is administratively a regressive tax.[citation needed]

An attempt to end the Ohio estate tax was blocked in 2001 when state revenues began to drop and intense lobbying from a league of suburban municipalities lobbied for a continuation of the tax. In 2007, the Ohio estate tax was again proposed for amendment or repeal. In 2010 the Ohio Republican Party central committee unanimously approved a petition to repeal the Ohio estate tax.[2]

For dates of death on or after January 1, 2002:[1]

Taxable Estate Bracket Tax Rate
Over $338,333 but not over $500,000 $13,900 plus 6% of the excess over $338,333
Over $500,000 23,600 plus 7% of the excess over $500,000

See also


  1. ^ a b Ohio Estate Tax FAQ (accessed Oct. 6, 2010)
  2. ^ http://www.endohioestatetax.com/

External links

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