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Ohio.gov

Ohio Department of Taxation Legal Resources

House Bill 675: Highlights

Tax Highlights for House Bill 675 - Budget Corrective Bill

Corporate and Personal Income Tax Changes 

Clarifies that interest still applies even under Safe Harbor provisions for penalties. 

Corrections to trust taxation

  • Modifies trust amount
  • Removes certain trusts from taxation
  • Provides allocation and apportionment of trust income
  • Modifies trust residency rules

Job Retention Tax Credit expanded to non-manufacturers

  • Lowers minimum level of qualifying investment
  • Expands project site radius
  • Allows capitalized costs of basic research and new product development to be included in the calculation of minimum investment

Changes responsibility from Tax Commissioner to Office of Budget and Management for estimates on expenditure-related ballot issues.

Sales Tax

Harmonizes certain sales tax sections enacted in both S.B. 143 and S.B. 200

Real Property 

Amends procedures for appeals from Boards of Revision to the Tax Commissioner.  Specifies that each party to a complaint has their own appeal period

Estate Tax 

Clarifies a probate estate of $2,000 or less does not relieve a gross estate with more than $338,333 from filing an estate tax return.