Summary: Key Changes in Ohio’s Income Tax for 2019

OMA Connections Partner Roetzel & Andress has summarized changes made to Ohio’s income tax system for tax year 2019. Key changes include:

The top personal income tax rate is now 4.797%, down from 4.997% previously.

There is a newly enacted non-refundable credit for investing in Ohio Opportunity Zones. To claim it, you must complete an approved application and obtain credit certificate.

For business income deductions, Ohio now uses the concept of “modified adjusted gross income” (which is the Ohio adjusted gross income, plus the business income deduction claimed on your Ohio income tax return). If you do not claim the business income deduction, the Ohio modified AGI change will not impact your Ohio income tax.