Changes Coming To Ohio Municipal Taxation
Gov. Kasich signed H.B. 5 on Dec. 19, 2014. This bill will improve consistency of the tax laws amongst Ohio’s municipalities.
From net operating loss carryover treatment and treatment of pass-through entities to employer withholding requirements and administrative matters, this bill resolves an array of matters that have long caused problems for taxpayers. The bill’s effective date is January 1, 2016, giving us all time to prepare for its implementation.
An article that includes a description of the key provisions in the bill can be found here.
