The Ohio House of Representatives held its third hearing on HB 334 October 24th. An amendment to HB 334 was introduced and
discussed. The amendment would have added a requirement that small business owners apply for and receive a tax certificate form the Ohio Tax Department in order to be eligible for the small business deduction. This amendment did not otherwise change HB 334 which contains clarifying retroactive language regarding use of a professional employer organization to handle payroll for a qualifying pass-0thru entity. The amendment was tabled and not approved.
I have been advised by legislative services that the current plan is to vote on the original version of HB 334 (without amendment) next week.
If you would like more information about the Ohio small business deduction or the clarifying legislation, please call or email me at 937-223-1130 or Jsenney@pselaw.com