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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:

  • Oct 13, 2023

    Tax revenues on target for September

    Better than expected collections in non-auto sales tax offset small dips in other sources to yield tax collections slightly above expectations in September, according to preliminary data from the Office of Budget and Management.
  • Oct 13, 2023

    How to claim Ohio’s resident tax credit for the SALT cap deduction from other states

    Last year, Senate Bill 246 (134th GA) authorized pass-through entity owners to “elect” to file a new form IT 4738 and be subject to a new entity-level tax in response to the federal $10,000 SALT deduction cap limit placed on individuals.
  • Oct 13, 2023

    Week in review: Oct. 15, 2023

    The DeWine administration announced Friday that 51 communities will receive more than $10.6 million to support community development projects around Ohio through a federal block grant program.
  • Oct 13, 2023

    IRS announces tax relief for those impacted by terrorist attacks in Israel

    Late Friday, the IRS announced tax relief for certain individuals and businesses affected by the terrorist attacks in Israel. These taxpayers now have until Oct. 7, 2024, to file various federal returns, make tax payments and perform other time-sensitive tax-related actions.
  • Oct 06, 2023

    Newly reduced Ohio Employer Withholding Tables available now

    This tax alert is to advise employers that the Ohio Department of Taxation has issued new employer withholding tables to be used for payrolls that end on or after Nov. 1, 2023.