Ohio House passes bill proposing substantial reforms to municipal taxation

The Ohio House passed Substitute House Bill 5 on November 13, 2013. H.B. 5 would implement substantial modifications to Ohio’s municipal income tax. Key modifications address NOL carryovers, consolidated return elections, alternative apportionment, treatment of pass-through entity taxation, compliance and appeal rules, and other municipal tax matters. H.B. 5 would generally be effective for tax years beginning on or after January 1, 2015. The bill now moves to the Ohio Senate for consideration.

Return to Tax research and insights
State and Local Tax