Tax Data Series

Individual Income Tax

Individual Income Tax
2004 Income Tax Returns By Income Class

A total of 5,302,862 Ohio personal income tax returns were filed for tax year 2004 (April 15, 2005 filing deadline). This represented an increase of 0.1 percent from the number of returns filed the previous year. Total federal adjusted gross income of approximately $293.4 billion was reported on the returns, an increase of 10.2 percent from the amount reported for 2003. The average federal adjusted gross income per return was $55,338, an increase of 10.1 percent from 2003. Taxpayers claimed personal exemptions ($1,350 per person) valued at approximately $13.7 billion, an average of $2,584 per return, or slightly less than 2 exemptions per return. Ohio taxable income as reported on the returns was $272.8 billion, an average of $51,446 per return.

Ohio's graduated income tax rates are applied to the Ohio taxable income figure to obtain the tax liability before any credits are calculated. The 2004 tax rates were applied to segments of taxable income, with a 0.712 percent rate applied to the first $5,000 of every taxpayer's taxable income up to a top rate of 7.185 percent on that portion of a taxpayer's taxable income which exceeded $200,000. Applying these graduated tax rates to Ohio taxable income for all taxpayers yielded a figure of about $13.2 billion.

Net tax liability after subtraction of the personal exemption credit, joint filer credit for two working spouses, senior citizen credit, and other credits was $8.8 billion, an increase of 9.3 percent over the previous year's tax liability. The average income tax liability was $1,661 per return which was 9.2 percent higher than in 2003.

All figures shown in table Y-1 were compiled from returns filed for tax year 2004 with the Ohio Department of Taxation.