Tax Credit

Ohio has instituted a tax credit for those who give to a state level candidate for office, such as Seth Morgan.  In Ohio, an individual is eligible for $50 per year, or $100 per year for a couple in the form of a tax credit, not deduction off of an individual or married filing joint Ohio income tax return.

FAQ's

Q: What is the difference between a tax credit and deduction?

     A: A tax credit is a dollar-for-dollar credit back to the tax payer.  For example, if your total tax calculated for a year is $500, and you gave $100 as a couple to Seth Morgan, your tax calculated for the year would go from $500 to $400.

Q: Can I take more than $50 or $100 in tax credits by giving to multiple candidates?

     A: No, the tax credit is "cumulative" for political giving to state level candidates and capped at $50 per individual or $100 per couple.

Q:  What if I/we are already getting a refund?  Does the credit still apply?

    A: Yes, so long as you have taxable income in Ohio, the tax credit is taken off your total tax due.  For instance, if you already are getting a refund of $125 and you gave as a couple to Seth Morgan $100, with the tax credit, you would receive a refund of $225.

OFFICIAL CODE

"You can claim a credit against your tax for contributions of money you made during the year to the campaign committee of candidates for any of the following Ohio Offices:

  • Governor
  • Lieutenant Governor
  • Secretary of State
  • Auditor of State
  • Treasurer of State
  • Attorney General
  • Chief justice of the Ohio Supreme Court
  • Justice of the Ohio Supreme Court
  • Ohio Board of Education
  • Ohio Senate
  • Ohio House of Representatives

The amount of the credit is the lesser of the combined total cash contributions you made during the year of $50 ($100 for married filing joint returns)."

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