Ohio Senate Passes Small Business Deduction Legislation

The Ohio Senate passed Small Business Deduction legislation (SB 186) 30-2.  This legislation is intended to clarify, retroactive to 2013, that small business owners who engage a professional employer organization to handle their payroll  receive the same tax incentive as those small business owners who do not.

HB 334 which includes the House version of the Small Business Deduction legislation is up for a vote in the Ohio House Ways & Means Committee next Tuesday October 24th.   Hopefully HB 334 is passed out of committee and then voted on by the full House.

Jeff Senney of Pickrel, Schaeffer & Ebeling, Cynthia Clay Thomas of Carlisle Plastics Company and others testified before both the Ohio Senate Ways & Means Committee and the Ohio House Ways & Means Committee regarding the Ohio Tax Department’s unreasonable interpretation of the current Ohio Small Business Deduction statute and the need for retroactive clarifying legislation.    Our testimony was obviously well received by the Senate.   Hopefully our testimony was also well received by the House.

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

AUTHOR: Jeff Senney