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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:

  • Dec 20, 2024

    Upcoming changes to the Commercial Activity Tax

    Effective Jan. 1, 2025, the annual exclusion amount for business increases from $3 million to $6 million. If your taxable gross receipts are $6 million or less, you will not have to pay the tax.
  • Dec 19, 2024

    CPA workforce reform legislation heads to Gov. DeWine for signature

    If signed into law by the Governor, new approaches will be adopted in Ohio that will address the challenges the CPA profession is now facing: the shrinking population of CPAs caused by retirements and too few new licensees, and strengthening existing interstate mobility laws to protect current licensees in the future.
  • Dec 19, 2024

    Senior VP Barb Benton to retire from OSCPA after a remarkable career

    While an impressive career of advocating for Ohio CPAs resulted in numerous legislative wins and meaningful reform, for Barb Benton, it all comes down to one thing.
  • Dec 14, 2024

    Week in Review: Dec. 15, 2024

    The DeWine administration recently announced the awarding of over $56 million as part of the Historic Preservation Tax Credit Program, with 37 projects set to receive funding in the latest round.
  • Dec 13, 2024

    CPA Workforce Reform legislation passes Senate

    OSCPA-backed legislation is currently pending before the Ohio Legislature that seeks to address the shrinking population of CPAs and strengthen existing interstate mobility laws.