Unclaimed Property - Do You Own Your Income?

A common issue that generates controversy is whether interest earned on unclaimed property belongs to the owner or the state. State courts have reached inconsistent and irreconcilable conclusions as to whether those earnings must be paid to an owner once the owner steps forward and claims the underlying property. This article discusses Sogg v. Zurz, which is a recent Ohio Supreme Court decision on that issue.

This installment is by Diann L. Smith and Matthew P. Hedstrom. Smith is counsel and Hedstrom is an associate with Sutherland Asbill and Brennan, LLP's State and Local Tax Practice.

View Diann Smith and Matthew Hedstrom's insights in their entirety on taxanalysts.com.