Governor Kasich Signs House Bill 229 to Create Ohio Family Trust Company Act

By Robert R. Galloway on June 16, 2016 Posted in Family Trust Company

On June 14, 2016, Governor Kasich signed House Bill 229 into law. The bill, which was over two years in the making, allows an Ohio family to establish its own trust company to serve as trustee for its family trusts. The legislation, co-authored by Rob Galloway of BakerHostetler’s Private Wealth Team, had been through a … Continue Reading

Family Trust Company Legislation Passes Ohio House

By Robert R. Galloway on December 16, 2015 Posted in Family Trust Company

On December 9, 2015, House Bill 229 was passed by the Ohio House of Representatives by a vote of 84-8. The bill, which was almost two years in the making, allows an Ohio family to establish its own trust company to serve as trustee for its family trusts. A companion bill is being considered by … Continue Reading

The Ohio Supreme Court Places Limitations on the Ohio Bright Line Income Tax Residency Presumption

By Kelvin Lawrence on August 4, 2015 Posted in Income Tax

On July 8, 2015, the Ohio Supreme Court found that Ohio nonresidents may not claim the benefit of the Ohio “bright line” presumption of nonresidency for income tax purposes if the taxpayer attests to having a domicile outside Ohio on the required Affidavit of Non-Ohio Domicile and the tax commissioner is in possession of information … Continue Reading