Below you will find timely news and information about DKC Certified Public Accountants and relevant tax planning and tax litigation updates.
Recently Signed Ohio Budget Bill Keeps Ohio Business Income Deduction Intact for Most Taxpayers – Attorneys and Lobbyist Aren’t So Lucky
By Keith Papa, CPA
On July 18, 2019, Governor Mike DeWine signed Am. House Bill 166, Ohio’s biennial budget bill, into law. In a win for most Ohio small business owner’s, the bill retains current law’s business income deduction up to $250,000 and maintains the 3% flat rate cap on income above that threshold for most taxpayers.
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