Author:Jeff Senney

Income of a business owned by a pass-thru entity (PTE) is generally subject to Ohio income tax in the hands of the owner. PTEs include partnerships, “S” corporations and limited liability companies. Starting in 2013, the definition of “adjusted gross income” found in ORC section 5747.01(A)...

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Shares of an S corporation may not generally be owned by corporations, partnerships or nonresident aliens. Shares of an S corporation may be owned by individuals, estates, certain tax-exempt organizations and certain trusts. Trusts that are permitted to hold S corporation stock include: grantor trusts, testamentary...

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