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    progtick's Avatar
    progtick Posts: 12, Reputation: 1
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    #1

    Oct 3, 2011, 08:34 AM
    State tax for Ohio for foreign capital gain and foreign earned interest on the amount
    Does one have to pay state tax on foreign capital gain and foreign interest that was earned during that year?
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #2

    Oct 3, 2011, 12:48 PM
    Yes. Like the IRS, Ohio takes the world-wide income of all of its residents.

    Ohio taxes capital gains (foreign or domestic) and interest (foreign or domestic) as ordinary income.

    Now, if you are a non-resident, then only income earned while working IN Ohio is subject to Ohio income tax.
    progtick's Avatar
    progtick Posts: 12, Reputation: 1
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    #3

    Oct 3, 2011, 08:53 PM
    @AtlantaExpert, at what rate?
    ebaines's Avatar
    ebaines Posts: 12,131, Reputation: 1307
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    #4

    Oct 4, 2011, 05:38 AM
    Ohio's income tax has nine tax brackets that range from 0.587% to 5.95%, depending on your income level. The top bracket kicks in at $200K income. Several municipalities also levy their own income tax, so depending where you live you may have to pay that as well.
    AtlantaTaxExpert's Avatar
    AtlantaTaxExpert Posts: 21,836, Reputation: 846
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    #5

    Oct 4, 2011, 06:24 AM
    Thanks, ebaines!
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