Ohio Estate Tax

In Ohio, if an Estate Tax return is required, it is generally filed within nine months of a person’s death. For dates of death on or after January 1, 2000 the tax commissioner has authorized an automatic, six-month extension of time to file the Ohio estate tax return. This permits estates with a date of death on or after January 1, 2000 to have 15 months to file the estate tax return. However, interest on any estate tax due will be calculated from nine months from date of death even if the estate utilizes an extension. One copy of the return is filed with the Probate Court and a second copy with the County Auditor.

Taxes are based on the net value of decedent’s estate or the gross value minus the debts and administration expenses of the estate. Ohio allows an unlimited marital deduction that allows property to pass from one spouse to another without taxation. A significant credit against the taxes due is also allowed by the State. Any tax due is paid at the Auditor’s office. Usually an attorney is retained to prepare this return.

The Auditor also issues Consent to Transfer Property (Tax Releases) for Estates on assets greater than $25,000 per account. These releases notify financial institutions that it may transfer ownership of assets and notifies the Department of Taxation that the estate exists and that an estate tax return may be necessary.

For more information about filing requirements or to obtain forms, please contact the Ohio Department of Taxation, Estate Tax Division, at 1-800-977-7711 or access that on the website at: http://tax.ohio.gov/divisions/estate/index.stm