PDF/Printer Friendly Version There has been much discussion on the Tax Cuts and Jobs Act (“TCJA”) and the impact on the Internal Revenue Code (“IRC”). A summary of the more significant changes set forth in the TCJA prepared by Zaino Hall & Farrin LLC can be viewed here. Few commentators have opined on how the TCJA provisions will impact Ohio taxes because Ohio does not have a state administered Ohio corporate net income tax. As we will discuss below, Ohio taxes may still be impacted by the TCJA provisions and it is important for Ohio taxpayers to consider these changes. The income tax chapters in the Ohio Revised Code adopt the IRC as of a certain date. Therefore, any changes made to the IRC

PDF/Printer Friendly Version OVERVIEW OF CURRENT LAW AND COMMON PRACTICES County Auditors in Ohio are permitted to collect a fee for the administration related to the transfer of deeds. There are two elements to the “real estate conveyance fee” (which is also commonly referred to as the “real estate transfer tax”). R.C. 319.54 levies a fee that is measured as 10 cents of every 100 dollars of the value of the real property transferred. Counties, under R.C. 322.02, are also given the authority to levy an additional real estate transfer tax of up to 30 cents per one hundred dollars of value (grand total of maximum fee/tax of 40 cents of every 100 dollars of value of real property transferred