Bill Would Simplify Pass Through Filings


A bill affecting all “pass through entities,” Senate Bill 288, sponsored by Senator John Eklund (R-Munson Township), received proponent testimony this week. OMA tax counsel Mark Engel OMA writes in an analysis prepared for OMA members: “Senate Bill 288 proposes to require all pass through entities to file either a composite return or an informational return, and to make tax payments with respect to certain owners included in the composite return. The bill also changes the rate at which tax is computed.”  The bill, he says, “attempts to simplify the filing process and reduce the cash implications to the individual owners.” The Ohio Society of CPAs provided testimony in support of the changes.