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Ohio Budget


The House on April 21 passed its version of Ohio's biennial budget, wrapping in the school funding plan from House Bill 1 and including a 2% across-the-board income tax cut, which would put more than $300 million back in taxpayers’ pockets. The Ohio Senate has already begun its own hearings on the legislation.

The budget – House Bill 110 – also appropriates $155 million in COVID-19 relief for small businesses and adds more oversight of the executive branch, including the creation of a Joint Legislative Oversight and Review Committee of Federal COVID Relief Aid and the referral of more spending initiatives by state agencies to the Controlling Board for approval. Here is a complete breakdown from the Ohio Legislative Service Commission.

If you have questions about the provisions in the Ohio Budget, contact OSCPA's Government Relations team.

Latest budget news:

  • Jun 07, 2024

    IRS, ODT, OBG make announcements

    New Ohio Employer Withholding Rates: The Ohio Department of Taxation has issued new employer withholding tables for payrolls that end on or after July 1, 2024. The new tables include the income tax rate reductions that went into effect when House Bill 33 (135th General Assembly) was signed into law on July 4, 2023.
  • Jun 07, 2024

    Week in Review: June 9, 2024

    Tax revenues were back on target in May after a slide over the past several months that turned a $200 million-plus overage into a $400 million-plus shortfall in collections, according to preliminary figures from the Office of Budget and Management (OBM).
  • May 31, 2024

    California Accountancy Board considers bold CPA licensure pathways proposal

    Recognizing the public interest threat from a decline in candidates entering the CPA profession, the California Board of Accountancy (CBA) held a special stakeholder meeting May 17 for an update on its SURE CPA (Students Understanding the Requirements to be a Certified Public Accountant) initiative and a resulting proposed licensing framework.
  • May 31, 2024

    May Accountancy Board meeting addresses workforce issues

    The Accountancy Board of Ohio (ABO), the state government entity charged with licensing, regulating, and when necessary, disciplining CPAs, can significantly affect the practice of all CPAs. That is why OSCPA represents the profession at every ABO meeting and advocates for best-practice rulemaking. The May 24, 2024, meeting included a variety of topics.
  • May 31, 2024

    Week in Review: June 2, 2024

    A three-judge panel of the U.S. Sixth Circuit Court of Appeals ruled 2-1 Wednesday that Attorney General Dave Yost must forward a proposed constitutional amendment on qualified immunity on to the next step in the ballot initiative process, but Yost's office said Thursday he will ask the full appellate court to review that ruling.