Ohio bill proposes substantial reforms to municipal taxation

House Bill 5, introduced on January 30, 2013, would implement meaningful changes to Ohio's municipal income tax law. The changes address NOL carryovers, consolidated return elections, apportionment modifications, treatment of pass-through entity taxation and withholding, audit and appeal related administration and rules, and other municipal tax matters. Unless otherwise noted, H.B. 5 would be effective for tax years beginning on or after January 1, 2015, and each municipality must incorporate these provisions in their ordinances by specified dates. [Ohio House Bill 5, introduced 1/30/13]

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