Mandel v. Limbach

R.C. 5747.01(A), for the tax year at issue, defined “adjusted gross income” as:

“ * * * adjusted gross income as that term is defined and used in the Internal Revenue Code, and exclud[ing] interest or dividends on obligations of the United States and its territories and possessions or of any authority, commission, or instrumentality of the United States to the extent includible in gross income for federal income tax purposes but exempt from state income taxes under the laws of the United States * * (Emphasis added.)

The Mandéis admit that Ohio may lawfully net interest income with interest…