Read about the legislative issues that impact your business.
January 27, 2020
The Ohio Legislature is back to work at the Statehouse. This issue covers what has happened since our last issue on December 16.
NEW TAX WITHHOLDING RATE BILL INTRODUCED
House Bill 467 was introduced to reform withholding requirements for specific Pass Through Entities (PTEs). HB 467 reduces two current rates: 8.5% and 5% to 4%. This will more align the rate to the new top marginal income tax enacted in the last Ohio budget bill (HB 166).
CONSTITUTIONAL AMENDMENT WOULD INCREASE OHIO'S MINIMUM WAGE 50%
Ohio’s two largest public labor unions seek to bypass Ohio’s legislature to set the state’s minimum wage. The proposed amendment was filed with the Attorney General’s office on Friday and would dramatically increase the Buckeye State’s minimum wage while also mandating annual increases.