Repeal of the Ohio Estate Tax Effective January 1, 2013
(July 2011) - On June 30, 2011, Governor John R. Kasich signed the State of Ohio’s Fiscal Year 2012-2013 budget. Included in this legislation is a repeal of the Ohio Estate Tax, effective January 1, 2013. This will eliminate any Ohio Estate Tax liability for individuals who die on or after January 1, 2013. The current filing requirements and tax rates for the Ohio Estate Tax will remain in effect through December 31, 2012. Therefore, there will continue to be Ohio Estate Tax liability for individuals dying on or before December 31, 2012, whose taxable estates are in excess $338,000.
If you have questions on how this change, as well as recent changes to the Federal Estate Tax, may impact your estate planning arrangements, contact Attorneys Jim Kamerer or Michelle Schuld at (330) 456-8341 or by email at or .
