Mandel v. Limbach

[This opinion has been published in Ohio Official Reports at 69 Ohio St.3d 617.] MANDEL ET AL., APPELLANTS, v. LIMBACH, TAX COMMR., APPELLEE. [Cite as Mandel v. Limbach,

1994-Ohio-31.] Taxation—Income tax—R.C. 5747.01 allows exclusion of interest on obligations of the United States as netted with the expense incurred to earn the interest income—Phrase "to the extent includible" in R.C. 5747.01(A) interpreted to limit the interest income exclusion to the amount actually included in federal adjusted gross income. (No. 93-1405—Submitted May 24, 1994—Decided July 27, 1994.) APPEAL from the Board…