Ohio SB187 creates a temporary tax credit for sound recording companies investing in Ohio.

Ohio SB187 establishes a temporary tax credit for sound recording companies investing in Ohio. The bill allows for a refundable credit of up to 25% of eligible expenditures for sound recording productions or infrastructure projects. Eligible expenditures include land, construction, design fees, and equipment, but exclude general administrative costs and insurance. Investors in certified projects can claim a credit up to $75,000, with a total annual cap of $1 million. The credit is available for taxable years beginning before January 1, 2029.

Ohio SB187 creates a temporary tax credit for sound recording companies investing in Ohio.

Ohio SB187 establishes a temporary tax credit for sound recording companies investing in Ohio. The bill allows for a refundable credit of up to 25% of eligible expenditures for sound recording productions or infrastructure projects. Eligible expenditures include land, construction, design fees, and equipment, but exclude general administrative costs and insurance. Investors in certified projects can claim a credit up to $75,000, with a total annual cap of $1 million. The credit is available for taxable years beginning before January 1, 2029.