Governor DeWine Signs Budget Bill

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After months of negotiations, Governor Mike DeWine signed Ohio's FY 2020-2021 general operating budget, and the following are a few key points that may impact you or your business:

  • Personal income tax rates decrease by 4% reducing the top individual tax rate to roughly 4.8%.
  • Taxpayers with taxable income below $21,750 will no longer pay Ohio tax.
  • The budget maintains the Business Income Deduction at $250,000 and maintains the 3% flat rate on business income in excess of $250,000. Lawyers and lobbyists are no longer eligible for the deduction.  Sorry to our attorney friends.  We didn’t lobby for this provision!
  • The budget invests $15 million each year of the biennium in the TechCred program which is applicable to businesses who provide training to incumbent and prospective employees to earn a micro credential or certificate. More to come on this training reimbursement program.


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