31, 2023, a taxpayer may elect to apply a new reporting location methodology to the apportionment of net profit from a business or profession, instead of the standard three-factor apportionment formula. Two other noteworthy changes include a new statutory exemption from the municipal income tax ...
despite the risk. In 2014, the tax (or fine) was $95 per adult and half of that amount per child with a family cap of $285. However, if 1% of your family income exceeded the previous calculated amount, than you paid the 1%. For example, if your household income was $...
Sales and income tax cuts: Taxes, Thomas said, are a three-legged stool in Ohio: income, sales and property taxes. When the state cuts one without cutting spending, the others must go up. And Republicans have cut more than $2 billion in income taxe...
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Dining at a restaurant is included in the sales tax holiday. Under Ohio law, food is taxable if it is consumed on the premises where it is sold. Since food is taxable when it is “dine-in,” any menu item that is less than $500 would qualify for the sales tax holiday exemption, ...