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us-oh/statute/5747.71 — Earned income tax credit · Axiom

Earned income tax credit

2 rules

There is hereby allowed a nonrefundable credit against a taxpayer's aggregate tax liability under section 5747.02 of the Revised Code for a taxpayer who is an "eligible individual" as defined in section 32 of the Internal Revenue Code. The credit shall equal thirty per cent of the federal credit allowed for the taxable year. The credit shall not exceed the aggregate amount of tax otherwise due under section 5747.02 of the Revised Code after deducting any other nonrefundable credits that precede the credit allowed under this section in the order prescribed by section 5747.98 of the Revised Code. The credit shall be claimed in the order prescribed by section 5747.98 of the Revised Code.

in view

Whole section

Encodings · 2

Encoded from this provision

us-oh/statute/5747/71

earned_income_creditus-oh/statute/5747.71 · derived

Ohio Rev. Code § 5747.71

name: earned_income_credit
kind: derived
entity: TaxUnit
dtype: Money
period: Year
unit: USD
source: Ohio Rev. Code § 5747.71
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us-oh/statute/5747.71
          excerpt: >-
            for a taxpayer who is an "eligible individual" as defined in section
            32 of the Internal Revenue Code
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-oh/statute/5747.71
          excerpt: >-
            The credit shall equal thirty per cent of the federal credit allowed
            for the taxable year.
      - path: versions[0].formula
        kind: exception
        source:
          corpus_citation_path: us-oh/statute/5747.71
          excerpt: >-
            The credit shall not exceed the aggregate amount of tax otherwise
            due under section 5747.02 ... after deducting any other
            nonrefundable credits that precede the credit
versions:
  - effective_from: '0001-01-01'
    formula: >-
      if eligible_individual_as_defined_in_section_32:
      min(federal_credit_percentage * max(0,
      federal_credit_allowed_for_taxable_year), max(0,
      aggregate_tax_liability_under_section_5747_02 -
      other_nonrefundable_credits_preceding_this_credit)) else: 0

federal_credit_percentageus-oh/statute/5747.71 · parameter

Ohio Rev. Code § 5747.71

name: federal_credit_percentage
kind: parameter
dtype: Rate
source: Ohio Rev. Code § 5747.71
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-oh/statute/5747.71
          excerpt: >-
            The credit shall equal thirty per cent of the federal credit allowed
            for the taxable year.
versions:
  - effective_from: '0001-01-01'
    formula: '0.30'

▸rulespec code

Shown source

statutes/5747

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View on GitHub

Rules

earned_income_credit

Derived

source: Ohio Rev. Code § 5747.71

- name: earned_income_credit
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: Ohio Rev. Code § 5747.71
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-oh/statute/5747.71
            excerpt: >-
              for a taxpayer who is an "eligible individual" as defined in section 32 of the
              Internal Revenue Code
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-oh/statute/5747.71
            excerpt: >-
              The credit shall equal thirty per cent of the federal credit allowed for the taxable
              year.
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us-oh/statute/5747.71
            excerpt: >-
              The credit shall not exceed the aggregate amount of tax otherwise due under section
              5747.02 ... after deducting any other nonrefundable credits that precede the credit
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        if eligible_individual_as_defined_in_section_32: min(federal_credit_percentage * max(0,
        federal_credit_allowed_for_taxable_year), max(0,
        aggregate_tax_liability_under_section_5747_02 -
        other_nonrefundable_credits_preceding_this_credit)) else: 0

federal_credit_percentage

Parameter

source: Ohio Rev. Code § 5747.71

- name: federal_credit_percentage
  kind: parameter
  dtype: Rate
  source: Ohio Rev. Code § 5747.71
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-oh/statute/5747.71
            excerpt: >-
              The credit shall equal thirty per cent of the federal credit allowed for the taxable
              year.
  versions:
    - effective_from: '0001-01-01'
      formula: '0.30'

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Earned income tax credit

2 rules

Official source

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in view

Whole section

Encodings · 2

Encoded from this provision

us-oh/statute/5747/71

earned_income_creditus-oh/statute/5747.71 · derived

Ohio Rev. Code § 5747.71

name: earned_income_credit
kind: derived
entity: TaxUnit
dtype: Money
period: Year
unit: USD
source: Ohio Rev. Code § 5747.71
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: condition
        source:
          corpus_citation_path: us-oh/statute/5747.71
          excerpt: >-
            for a taxpayer who is an "eligible individual" as defined in section
            32 of the Internal Revenue Code
      - path: versions[0].formula
        kind: formula
        source:
          corpus_citation_path: us-oh/statute/5747.71
          excerpt: >-
            The credit shall equal thirty per cent of the federal credit allowed
            for the taxable year.
      - path: versions[0].formula
        kind: exception
        source:
          corpus_citation_path: us-oh/statute/5747.71
          excerpt: >-
            The credit shall not exceed the aggregate amount of tax otherwise
            due under section 5747.02 ... after deducting any other
            nonrefundable credits that precede the credit
versions:
  - effective_from: '0001-01-01'
    formula: >-
      if eligible_individual_as_defined_in_section_32:
      min(federal_credit_percentage * max(0,
      federal_credit_allowed_for_taxable_year), max(0,
      aggregate_tax_liability_under_section_5747_02 -
      other_nonrefundable_credits_preceding_this_credit)) else: 0

federal_credit_percentageus-oh/statute/5747.71 · parameter

Ohio Rev. Code § 5747.71

name: federal_credit_percentage
kind: parameter
dtype: Rate
source: Ohio Rev. Code § 5747.71
metadata:
  proof:
    atoms:
      - path: versions[0].formula
        kind: amount
        source:
          corpus_citation_path: us-oh/statute/5747.71
          excerpt: >-
            The credit shall equal thirty per cent of the federal credit allowed
            for the taxable year.
versions:
  - effective_from: '0001-01-01'
    formula: '0.30'

▸rulespec code

Shown source

statutes/5747

Displaying the canonical repository encoding.

View on GitHub

Rules

earned_income_credit

Derived

source: Ohio Rev. Code § 5747.71

- name: earned_income_credit
  kind: derived
  entity: TaxUnit
  dtype: Money
  period: Year
  unit: USD
  source: Ohio Rev. Code § 5747.71
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: condition
          source:
            corpus_citation_path: us-oh/statute/5747.71
            excerpt: >-
              for a taxpayer who is an "eligible individual" as defined in section 32 of the
              Internal Revenue Code
        - path: versions[0].formula
          kind: formula
          source:
            corpus_citation_path: us-oh/statute/5747.71
            excerpt: >-
              The credit shall equal thirty per cent of the federal credit allowed for the taxable
              year.
        - path: versions[0].formula
          kind: exception
          source:
            corpus_citation_path: us-oh/statute/5747.71
            excerpt: >-
              The credit shall not exceed the aggregate amount of tax otherwise due under section
              5747.02 ... after deducting any other nonrefundable credits that precede the credit
  versions:
    - effective_from: '0001-01-01'
      formula: >-
        if eligible_individual_as_defined_in_section_32: min(federal_credit_percentage * max(0,
        federal_credit_allowed_for_taxable_year), max(0,
        aggregate_tax_liability_under_section_5747_02 -
        other_nonrefundable_credits_preceding_this_credit)) else: 0

federal_credit_percentage

Parameter

source: Ohio Rev. Code § 5747.71

- name: federal_credit_percentage
  kind: parameter
  dtype: Rate
  source: Ohio Rev. Code § 5747.71
  metadata:
    proof:
      atoms:
        - path: versions[0].formula
          kind: amount
          source:
            corpus_citation_path: us-oh/statute/5747.71
            excerpt: >-
              The credit shall equal thirty per cent of the federal credit allowed for the taxable
              year.
  versions:
    - effective_from: '0001-01-01'
      formula: '0.30'