Ohio Repeals the “Death Tax”

Governor John Kasich of Ohio signed a new bill Thursday night that repeals Ohio’s “death tax” beginning on January 1, 2013. The state’s estate tax, known as the “death tax,” was enacted in 1968 to replace Ohio’s inheritance tax.

Ohio farmers rejoiced in the tax’s repeal last week. These farmers have complained for years of the burden of forcing families to pay taxes on a deceased loved one’s home, farm, and business at his or her death when the deceased had paid taxes on these lands during life. Farmers also criticized the inability to liquidate the funds needed to pay taxes due on at a loved one’s death.

Chris Kick, Ohio repeals estate tax, farmers see relief in sight, Farm and Dairy, Jul. 2, 2011.

Special thanks to Matthew R. Hochstetler (attorney, Wooster, Ohio) for bringing this article to my attention.