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Statutory Brief · Exemptions

B2B Unclaimed Property Exemptions by State: All 4 Statutory Tiers Explained

Treating 'B2B exemptions' as uniform across states leads directly to either costly over-remittance in Ohio or painful audit assessments in Massachusetts and Illinois.

Key Statutory Findings & Holder Guidance

Tier 1 (Broad Ordinary Course — OH, VA, MD, KS): Exempts both qualifying commercial AP vendor checks AND AR credit balances (wages and equity always excluded).
Tier 2 (Credit Balances Only — MA, MI, IN, IA, NC, WI): Exempts B2B AR credit memos/overpayments, while uncashed B2B AP vendor checks remain 100% reportable.
Tier 3 (Relationship Deferral — AZ, TN): Pauses the dormancy clock only while an active ongoing commercial relationship continues.
Tier 4 (Repealed Trap — IL): Illinois repealed its B2B exemption under IL-RUUPA in 2018 with retroactive reach-back.

Corporate finance and tax teams evaluating these rules should verify entity-specific incorporation history and prior filing logs before submitting positive or negative reports to state portals.