Ohio Small Businesses to Get Some Tax Relief

This month, the General Assembly passed and Gov. Mike DeWine signed two new tax bills to provide some relief to small businesses operating as S-corporations, partnerships, and LLCs. As noted in this insight by OMA Connections Partner Gilmore Jasion Mahler, Senate Bill 246 offers relief from the current cap on deducting state and local tax on individual returns, while House Bill 515 clarifies the business income deduction as it relates to gains from the sale of a business. 6/27/2022