Ohio decreases personal income tax rate; amends business deduction,(Jul. 26, 2019)
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Friday, August 9, 2019

Ohio decreases personal income tax rate; amends business deduction,(Jul. 26, 2019)

By Payroll and Entitlements Editorial Staff

Ohio has enacted legislation that reduces personal income tax rates by 4%; increases the personal exemption; and amends the business deduction.

Personal income tax rates. The personal income tax rate is not imposed on amounts under $21,750 (previously $10,500).

The lowered rates for 2019 on income are:

  • $21,750 but under $43,450, $310.47 plus 2.850% of the amount over $21,750;
  • $43,450 but under $86,900, $928.92, plus 3.326% of the amount over $43,450;
  • $86,900 but under $108,700, $2,374.07, plus 3.802% of the amount over $86,900;
  • $108,700 but under 217,400, $3,202.91 plus 4.413% of the amount over $108,700;
  • $217,400, $7,999.84 plus 4.797% of the amount over $217,400.

The tax on estates is now levied at a rate of 1.42744% (previously .7425%) of the first $21,750 (previously $10,500).

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