The Senate on Thursday passed House Bill 166, the main operating budget bill for Ohio’s state government. Included in the approved bill were several tax changes.
The Senate retained the House language providing a sales-and-use tax credit for equipment and supplies used to clean equipment that produces or processes food for human consumption. The Senate also expanded the eligibility for manufacturers wanting to take advantage of the Job Retention Tax Credit (JRTC) by removing certain thresholds and requiring a new capital investment.
The Senate version of the budget bill also moves Ohio’s business income tax exemption back to the first $250,000 of income for pass-through entities. However, the Senate did not reinsert language to allow a 3% flat tax rate for pass-through income exceeding $250,000, as is the case under current law.
The bill now moves to a conference committee between the House and Senate to reconcile differences. 6/20/2019