Deposits to the extent they represent funds required to be collected or withheld as taxes levied upon persons other than the depositor by federal, state or local governmental authority, and deposits not used in business to the extent they represent funds belonging beneficially to non-residents of Ohio, whether or not any such funds are on deposit in or outside of Ohio, are not subject to taxation.
Ohio Rev. Code Ann. § 5709.041
Exemption of certain deposits
Effective: September 29, 1955; Latest Legislation: Senate Bill 374 - 101st General Assembly
Official source: Ohio Laws & Administrative Rules (Legislative Service Commission). Reproduced from public-domain Ohio statutes; confirm against the official source for the current text. Not legal advice.