Bill Text: OH HB639 | 2013-2014 | 130th General Assembly | Introduced
Bill Title: To phase out the income tax and income tax expenditures over ten years.
Spectrum: Partisan Bill (Republican 4-0)
Status: (Introduced - Dead) 2014-10-20 - To Ways and Means [HB639 Detail]
Download: Ohio-2013-HB639-Introduced.html
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Representatives Beck, Adams, J.
Cosponsors:
Representatives Retherford, Becker
| To amend sections 5747.02 and 5747.41 and to enact | 1 |
| section 5747.027 of the Revised Code to phase out | 2 |
| the income tax and income tax expenditures over | 3 |
| ten years. | 4 |
BE IT ENACTED BY THE GENERAL ASSEMBLY OF THE STATE OF OHIO:
| Section 1. That sections 5747.02 and 5747.41 of the Revised | 5 |
| Code be amended and section 5747.027 of the Revised Code be | 6 |
| enacted to read as follows: | 7 |
| Sec. 5747.02. (A) For the purpose of providing revenue for | 8 |
| the support of schools and local government functions, to provide | 9 |
| relief to property taxpayers, to provide revenue for the general | 10 |
| revenue fund, and to meet the expenses of administering the tax | 11 |
| levied by this chapter, there is hereby levied on every | 12 |
| individual, trust, and estate residing in or earning or receiving | 13 |
| income in this state, on every individual, trust, and estate | 14 |
| earning or receiving lottery winnings, prizes, or awards pursuant | 15 |
| to Chapter 3770. of the Revised Code, on every individual, trust, | 16 |
| and estate earning or receiving winnings on casino gaming, and on | 17 |
| every individual, trust, and estate otherwise having nexus with or | 18 |
| in this state under the Constitution of the United States, an | 19 |
| annual tax measured in the case of individuals by Ohio adjusted | 20 |
| gross income less an exemption for the taxpayer, the taxpayer's | 21 |
| spouse, and each dependent as provided in section 5747.025 of the | 22 |
| Revised Code; measured in the case of trusts by modified Ohio | 23 |
| taxable income under division (D) of this section; and measured in | 24 |
| the case of estates by Ohio taxable income. The tax imposed by | 25 |
| this section on the balance thus obtained is hereby levied as | 26 |
| follows: | 27 |
| (1) For taxable years beginning in 2004: | 28 |
| OHIO ADJUSTED GROSS INCOME LESS EXEMPTIONS (INDIVIDUALS) | 29 | ||
| OR | 30 | ||
| MODIFIED OHIO | 31 | ||
| TAXABLE INCOME (TRUSTS) | 32 | ||
| OR | 33 | ||
| OHIO TAXABLE INCOME (ESTATES) | TAX | 34 |
| $5,000 or less | .743% | 35 | ||
| More than $5,000 but not more than $10,000 | $37.15 plus 1.486% of the amount in excess of $5,000 | 36 | ||
| More than $10,000 but not more than $15,000 | $111.45 plus 2.972% of the amount in excess of $10,000 | 37 | ||
| More than $15,000 but not more than $20,000 | $260.05 plus 3.715% of the amount in excess of $15,000 | 38 | ||
| More than $20,000 but not more than $40,000 | $445.80 plus 4.457% of the amount in excess of $20,000 | 39 | ||
| More than $40,000 but not more than $80,000 | $1,337.20 plus 5.201% of the amount in excess of $40,000 | 40 | ||
| More than $80,000 but not more than $100,000 | $3,417.60 plus 5.943% of the amount in excess of $80,000 | 41 | ||
| More than $100,000 but not more than $200,000 | $4,606.20 plus 6.9% of the amount in excess of $100,000 | 42 | ||
| More than $200,000 | $11,506.20 plus 7.5% of the amount in excess of $200,000 | 43 |
| (2) For taxable years beginning in 2005: | 44 |
| OHIO ADJUSTED GROSS INCOME LESS EXEMPTIONS (INDIVIDUALS) | 45 | ||
| OR | 46 | ||
| MODIFIED OHIO | 47 | ||
| TAXABLE INCOME (TRUSTS) | 48 | ||
| OR | 49 | ||
| OHIO TAXABLE INCOME (ESTATES) | TAX | 50 |
| $5,000 or less | .712% | 51 | ||
| More than $5,000 but not more than $10,000 | $35.60 plus 1.424% of the amount in excess of $5,000 | 52 | ||
| More than $10,000 but not more than $15,000 | $106.80 plus 2.847% of the amount in excess of $10,000 | 53 | ||
| More than $15,000 but not more than $20,000 | $249.15 plus 3.559% of the amount in excess of $15,000 | 54 | ||
| More than $20,000 but not more than $40,000 | $427.10 plus 4.27% of the amount in excess of $20,000 | 55 | ||
| More than $40,000 but not more than $80,000 | $1,281.10 plus 4.983% of the amount in excess of $40,000 | 56 | ||
| More than $80,000 but not more than $100,000 | $3,274.30 plus 5.693% of the amount in excess of $80,000 | 57 | ||
| More than $100,000 but not more than $200,000 | $4,412.90 plus 6.61% of the amount in excess of $100,000 | 58 | ||
| More than $200,000 | $11,022.90 plus 7.185% of the amount in excess of $200,000 | 59 |
| (3) For taxable years beginning in 2006: | 60 |
| OHIO ADJUSTED GROSS INCOME LESS EXEMPTIONS (INDIVIDUALS) | 61 | ||
| OR | 62 | ||
| MODIFIED OHIO | 63 | ||
| TAXABLE INCOME (TRUSTS) | 64 | ||
| OR | 65 | ||
| OHIO TAXABLE INCOME (ESTATES) | TAX | 66 |
| $5,000 or less | .681% | 67 | ||
| More than $5,000 but not more than $10,000 | $34.05 plus 1.361% of the amount in excess of $5,000 | 68 | ||
| More than $10,000 but not more than $15,000 | $102.10 plus 2.722% of the amount in excess of $10,000 | 69 | ||
| More than $15,000 but not more than $20,000 | $238.20 plus 3.403% of the amount in excess of $15,000 | 70 | ||
| More than $20,000 but not more than $40,000 | $408.35 plus 4.083% of the amount in excess of $20,000 | 71 | ||
| More than $40,000 but not more than $80,000 | $1,224.95 plus 4.764% of the amount in excess of $40,000 | 72 | ||
| More than $80,000 but not more than $100,000 | $3,130.55 plus 5.444% of the amount in excess of $80,000 | 73 | ||
| More than $100,000 but not more than $200,000 | $4,219.35 plus 6.32% of the amount in excess of $100,000 | 74 | ||
| More than $200,000 | $10,539.35 plus 6.87% of the amount in excess of $200,000 | 75 |
| (4) For taxable years beginning in 2007: | 76 |
| OHIO ADJUSTED GROSS INCOME LESS EXEMPTIONS (INDIVIDUALS) | 77 | ||
| OR | 78 | ||
| MODIFIED OHIO | 79 | ||
| TAXABLE INCOME (TRUSTS) | 80 | ||
| OR | 81 | ||
| OHIO TAXABLE INCOME (ESTATES) | TAX | 82 |
| $5,000 or less | .649% | 83 | ||
| More than $5,000 but not more than $10,000 | $32.45 plus 1.299% of the amount in excess of $5,000 | 84 | ||
| More than $10,000 but not more than $15,000 | $97.40 plus 2.598% of the amount in excess of $10,000 | 85 | ||
| More than $15,000 but not more than $20,000 | $227.30 plus 3.247% of the amount in excess of $15,000 | 86 | ||
| More than $20,000 but not more than $40,000 | $389.65 plus 3.895% of the amount in excess of $20,000 | 87 | ||
| More than $40,000 but not more than $80,000 | $1,168.65 plus 4.546% of the amount in excess of $40,000 | 88 | ||
| More than $80,000 but not more than $100,000 | $2,987.05 plus 5.194% of the amount in excess of $80,000 | 89 | ||
| More than $100,000 but not more than $200,000 | $4,025.85 plus 6.031% of the amount in excess of $100,000 | 90 | ||
| More than $200,000 | $10,056.85 plus 6.555% of the amount in excess of $200,000 | 91 |
| (5) For taxable years beginning in 2008, 2009, or 2010: | 92 |
| OHIO ADJUSTED GROSS INCOME LESS EXEMPTIONS (INDIVIDUALS) | 93 | ||
| OR | 94 | ||
| MODIFIED OHIO | 95 | ||
| TAXABLE INCOME (TRUSTS) | 96 | ||
| OR | 97 | ||
| OHIO TAXABLE INCOME (ESTATES) | TAX | 98 |
| $5,000 or less | .618% | 99 | ||
| More than $5,000 but not more than $10,000 | $30.90 plus 1.236% of the amount in excess of $5,000 | 100 | ||
| More than $10,000 but not more than $15,000 | $92.70 plus 2.473% of the amount in excess of $10,000 | 101 | ||
| More than $15,000 but not more than $20,000 | $216.35 plus 3.091% of the amount in excess of $15,000 | 102 | ||
| More than $20,000 but not more than $40,000 | $370.90 plus 3.708% of the amount in excess of $20,000 | 103 | ||
| More than $40,000 but not more than $80,000 | $1,112.50 plus 4.327% of the amount in excess of $40,000 | 104 | ||
| More than $80,000 but not more than $100,000 | $2,843.30 plus 4.945% of the amount in excess of $80,000 | 105 | ||
| More than $100,000 but not more than $200,000 | $3,832.30 plus 5.741% of the amount in excess of $100,000 | 106 | ||
| More than $200,000 | $9,573.30 plus 6.24% of the amount in excess of $200,000 | 107 |
| (6) For taxable years beginning in 2011 or 2012: | 108 |
| OHIO ADJUSTED GROSS INCOME LESS EXEMPTIONS (INDIVIDUALS) | 109 | ||
| OR | 110 | ||
| MODIFIED OHIO | 111 | ||
| TAXABLE INCOME (TRUSTS) | 112 | ||
| OR | 113 | ||
| OHIO TAXABLE INCOME (ESTATES) | TAX | 114 |
| $5,000 or less | .587% | 115 | ||
| More than $5,000 but not more than $10,000 | $29.35 plus 1.174% of the amount in excess of $5,000 | 116 | ||
| More than $10,000 but not more than $15,000 | $88.05 plus 2.348% of the amount in excess of $10,000 | 117 | ||
| More than $15,000 but not more than $20,000 | $205.45 plus 2.935% of the amount in excess of $15,000 | 118 | ||
| More than $20,000 but not more than $40,000 | $352.20 plus 3.521% of the amount in excess of $20,000 | 119 | ||
| More than $40,000 but not more than $80,000 | $1,056.40 plus 4.109% of the amount in excess of $40,000 | 120 | ||
| More than $80,000 but not more than $100,000 | $2,700.00 plus 4.695% of the amount in excess of $80,000 | 121 | ||
| More than $100,000 but not more than $200,000 | $3,639.00 plus 5.451% of the amount in excess of $100,000 | 122 | ||
| More than $200,000 | $9,090.00 plus 5.925% of the amount in excess of $200,000 | 123 |
| (7) For taxable years beginning in 2013: | 124 |
| OHIO ADJUSTED GROSS INCOME LESS EXEMPTIONS (INDIVIDUALS) | 125 | ||
| OR | 126 | ||
| MODIFIED OHIO | 127 | ||
| TAXABLE INCOME (TRUSTS) | 128 | ||
| OR | 129 | ||
| OHIO TAXABLE INCOME (ESTATES) | TAX | 130 |
| $5,000 or less | .537% | 131 | ||
| More than $5,000 but not more than $10,000 | $26.86 plus 1.074% of the amount in excess of $5,000 | 132 | ||
| More than $10,000 but not more than $15,000 | $80.57 plus 2.148% of the amount in excess of $10,000 | 133 | ||
| More than $15,000 but not more than $20,000 | $187.99 plus 2.686% of the amount in excess of $15,000 | 134 | ||
| More than $20,000 but not more than $40,000 | $322.26 plus 3.222% of the amount in excess of $20,000 | 135 | ||
| More than $40,000 but not more than $80,000 | $966.61 plus 3.760% of the amount in excess of $40,000 | 136 | ||
| More than $80,000 but not more than $100,000 | $2,470.50 plus 4.296% of the amount in excess of $80,000 | 137 | ||
| More than $100,000 but not more than $200,000 | $3,329.68 plus 4.988% of the amount in excess of $100,000 | 138 | ||
| More than $200,000 | $8,317.35 plus 5.421% of the amount in excess of $200,000 | 139 |
| (8) For taxable years beginning in 2014 | 140 |
| OHIO ADJUSTED GROSS INCOME LESS EXEMPTIONS (INDIVIDUALS) | 141 | ||
| OR | 142 | ||
| MODIFIED OHIO | 143 | ||
| TAXABLE INCOME (TRUSTS) | 144 | ||
| OR | 145 | ||
| OHIO TAXABLE INCOME (ESTATES) | TAX | 146 |
| $5,000 or less | .528% | 147 | ||
| More than $5,000 but not more than $10,000 | $26.41 plus 1.057% of the amount in excess of $5,000 | 148 | ||
| More than $10,000 but not more than $15,000 | $79.24 plus 2.113% of the amount in excess of $10,000 | 149 | ||
| More than $15,000 but not more than $20,000 | $184.90 plus 2.642% of the amount in excess of $15,000 | 150 | ||
| More than $20,000 but not more than $40,000 | $316.98 plus 3.169% of the amount in excess of $20,000 | 151 | ||
| More than $40,000 but not more than $80,000 | $950.76 plus 3.698% of the amount in excess of $40,000 | 152 | ||
| More than $80,000 but not more than $100,000 | $2,430.00 plus 4.226% of the amount in excess of $80,000 | 153 | ||
| More than $100,000 but not more than $200,000 | $3,275.10 plus 4.906% of the amount in excess of $100,000 | 154 | ||
| More than $200,000 | $8,181.00 plus 5.333% of the amount in excess of $200,000 | 155 |
| (9) For taxable years beginning in 2015: | 156 |
| OHIO ADJUSTED GROSS INCOME LESS EXEMPTIONS (INDIVIDUALS) | 157 | ||
| OR | 158 | ||
| MODIFIED OHIO | 159 | ||
| TAXABLE INCOME (TRUSTS) | 160 | ||
| OR | 161 | ||
| OHIO TAXABLE INCOME (ESTATES) | TAX | 162 |
| $5,000 or less | .475% | 163 | ||
| More than $5,000 but not more than $10,000 | $23.75 plus .951% of the amount in excess of $5,000 | 164 | ||
| More than $10,000 but not more than $15,000 | $71.30 plus 1.902% of the amount in excess of $10,000 | 165 | ||
| More than $15,000 but not more than $20,000 | $166.40 plus 2.378% of the amount in excess of $15,000 | 166 | ||
| More than $20,000 but not more than $40,000 | $285.30 plus 2.852% of the amount in excess of $20,000 | 167 | ||
| More than $40,000 but not more than $80,000 | $855.70 plus 3.328% of the amount in excess of $40,000 | 168 | ||
| More than $80,000 but not more than $100,000 | $2,186.90 plus 3.803% of the amount in excess of $80,000 | 169 | ||
| More than $100,000 but not more than $200,000 | $2,947.50 plus 4.415% of the amount in excess of $100,000 | 170 | ||
| More than $200,000 | $7,362.50 plus 4.800% of the amount in excess of $200,000 | 171 |
| (10) For taxable years beginning in 2016: | 172 |
| OHIO ADJUSTED GROSS INCOME LESS EXEMPTIONS (INDIVIDUALS) | 173 | ||
| OR | 174 | ||
| MODIFIED OHIO | 175 | ||
| TAXABLE INCOME (TRUSTS) | 176 | ||
| OR | 177 | ||
| OHIO TAXABLE INCOME (ESTATES) | TAX | 178 |
| $5,000 or less | .422% | 179 | ||
| More than $5,000 but not more than $10,000 | $21.10 plus .846% of the amount in excess of $5,000 | 180 | ||
| More than $10,000 but not more than $15,000 | $63.40 plus 1.690% of the amount in excess of $10,000 | 181 | ||
| More than $15,000 but not more than $20,000 | $147.90 plus 2.114% of the amount in excess of $15,000 | 182 | ||
| More than $20,000 but not more than $40,000 | $253.60 plus 2.535% of the amount in excess of $20,000 | 183 | ||
| More than $40,000 but not more than $80,000 | $760.60 plus 2.958% of the amount in excess of $40,000 | 184 | ||
| More than $80,000 but not more than $100,000 | $1,943.80 plus 3.381% of the amount in excess of $80,000 | 185 | ||
| More than $100,000 but not more than $200,000 | $2,620.00 plus 3.925% of the amount in excess of $100,000 | 186 | ||
| More than $200,000 | $6,545.00 plus 4.266% of the amount in excess of $200,000 | 187 |
| (11) For taxable years beginning in 2017: | 188 |
| OHIO ADJUSTED GROSS INCOME LESS EXEMPTIONS (INDIVIDUALS) | 189 | ||
| OR | 190 | ||
| MODIFIED OHIO | 191 | ||
| TAXABLE INCOME (TRUSTS) | 192 | ||
| OR | 193 | ||
| OHIO TAXABLE INCOME (ESTATES) | TAX | 194 |
| $5,000 or less | .370% | 195 | ||
| More than $5,000 but not more than $10,000 | $18.50 plus .740% of the amount in excess of $5,000 | 196 | ||
| More than $10,000 but not more than $15,000 | $55.50 plus 1.479% of the amount in excess of $10,000 | 197 | ||
| More than $15,000 but not more than $20,000 | $129.45 plus 1.849% of the amount in excess of $15,000 | 198 | ||
| More than $20,000 but not more than $40,000 | $221.90 plus 2.218% of the amount in excess of $20,000 | 199 | ||
| More than $40,000 but not more than $80,000 | $665.50 plus 2.589% of the amount in excess of $40,000 | 200 | ||
| More than $80,000 but not more than $100,000 | $1,701.10 plus 2.958% of the amount in excess of $80,000 | 201 | ||
| More than $100,000 but not more than $200,000 | $2,292.70 plus 3.434% of the amount in excess of $100,000 | 202 | ||
| More than $200,000 | $5,726.70 plus 3.733% of the amount in excess of $200,000 | 203 |
| (12) For taxable years beginning in 2018: | 204 |
| OHIO ADJUSTED GROSS INCOME LESS EXEMPTIONS (INDIVIDUALS) | 205 | ||
| OR | 206 | ||
| MODIFIED OHIO | 207 | ||
| TAXABLE INCOME (TRUSTS) | 208 | ||
| OR | 209 | ||
| OHIO TAXABLE INCOME (ESTATES) | TAX | 210 |
| $5,000 or less | .317% | 211 | ||
| More than $5,000 but not more than $10,000 | $15.85 plus .634% of the amount in excess of $5,000 | 212 | ||
| More than $10,000 but not more than $15,000 | $47.55 plus 1.268% of the amount in excess of $10,000 | 213 | ||
| More than $15,000 but not more than $20,000 | $110.95 plus 1.585% of the amount in excess of $15,000 | 214 | ||
| More than $20,000 but not more than $40,000 | $190.20 plus 1.901% of the amount in excess of $20,000 | 215 | ||
| More than $40,000 but not more than $80,000 | $570.40 plus 2.219% of the amount in excess of $40,000 | 216 | ||
| More than $80,000 but not more than $100,000 | $1,458.00 plus 2.536% of the amount in excess of $80,000 | 217 | ||
| More than $100,000 but not more than $200,000 | $1,965.20 plus 2.944% of the amount in excess of $100,000 | 218 | ||
| More than $200,000 | $4,909.20 plus 3.200% of the amount in excess of $200,000 | 219 |
| (13) For taxable years beginning in 2019: | 220 |
| OHIO ADJUSTED GROSS INCOME LESS EXEMPTIONS (INDIVIDUALS) | 221 | ||
| OR | 222 | ||
| MODIFIED OHIO | 223 | ||
| TAXABLE INCOME (TRUSTS) | 224 | ||
| OR | 225 | ||
| OHIO TAXABLE INCOME (ESTATES) | TAX | 226 |
| $5,000 or less | .264% | 227 | ||
| More than $5,000 but not more than $10,000 | $13.20 plus .529% of the amount in excess of $5,000 | 228 | ||
| More than $10,000 but not more than $15,000 | $39.65 plus 1.057% of the amount in excess of $10,000 | 229 | ||
| More than $15,000 but not more than $20,000 | $92.50 plus 1.321% of the amount in excess of $15,000 | 230 | ||
| More than $20,000 but not more than $40,000 | $158.55 plus 1.585% of the amount in excess of $20,000 | 231 | ||
| More than $40,000 but not more than $80,000 | $475.55 plus 1.849% of the amount in excess of $40,000 | 232 | ||
| More than $80,000 but not more than $100,000 | $1,215.15 plus 2.113% of the amount in excess of $80,000 | 233 | ||
| More than $100,000 but not more than $200,000 | $1,637.75 plus 2.453% of the amount in excess of $100,000 | 234 | ||
| More than $200,000 | $4,090.75 plus 2.667% of the amount in excess of $200,000 | 235 |
| (14) For taxable years beginning in 2020: | 236 |
| OHIO ADJUSTED GROSS INCOME LESS EXEMPTIONS (INDIVIDUALS) | 237 | ||
| OR | 238 | ||
| MODIFIED OHIO | 239 | ||
| TAXABLE INCOME (TRUSTS) | 240 | ||
| OR | 241 | ||
| OHIO TAXABLE INCOME (ESTATES) | TAX | 242 |
| $5,000 or less | .211% | 243 | ||
| More than $5,000 but not more than $10,000 | $10.55 plus .423% of the amount in excess of $5,000 | 244 | ||
| More than $10,000 but not more than $15,000 | $31.70 plus .845% of the amount in excess of $10,000 | 245 | ||
| More than $15,000 but not more than $20,000 | $73.95 plus 1.057% of the amount in excess of $15,000 | 246 | ||
| More than $20,000 but not more than $40,000 | $126.80 plus 1.268% of the amount in excess of $20,000 | 247 | ||
| More than $40,000 but not more than $80,000 | $380.40 plus 1.479% of the amount in excess of $40,000 | 248 | ||
| More than $80,000 but not more than $100,000 | $972.00 plus 1.690% of the amount in excess of $80,000 | 249 | ||
| More than $100,000 but not more than $200,000 | $1,310.00 plus 1.962% of the amount in excess of $100,000 | 250 | ||
| More than $200,000 | $3,272.00 plus 2.133% of the amount in excess of $200,000 | 251 |
| (15) For taxable years beginning in 2021: | 252 |
| OHIO ADJUSTED GROSS INCOME LESS EXEMPTIONS (INDIVIDUALS) | 253 | ||
| OR | 254 | ||
| MODIFIED OHIO | 255 | ||
| TAXABLE INCOME (TRUSTS) | 256 | ||
| OR | 257 | ||
| OHIO TAXABLE INCOME (ESTATES) | TAX | 258 |
| $5,000 or less | .158% | 259 | ||
| More than $5,000 but not more than $10,000 | $7.90 plus .317% of the amount in excess of $5,000 | 260 | ||
| More than $10,000 but not more than $15,000 | $23.75 plus .634% of the amount in excess of $10,000 | 261 | ||
| More than $15,000 but not more than $20,000 | $55.45 plus .793% of the amount in excess of $15,000 | 262 | ||
| More than $20,000 but not more than $40,000 | $95.10 plus .951% of the amount in excess of $20,000 | 263 | ||
| More than $40,000 but not more than $80,000 | $285.30 plus 1.109% of the amount in excess of $40,000 | 264 | ||
| More than $80,000 but not more than $100,000 | $728.90 plus 1.268% of the amount in excess of $80,000 | 265 | ||
| More than $100,000 but not more than $200,000 | $982.50 plus 1.472% of the amount in excess of $100,000 | 266 | ||
| More than $200,000 | $2,454.50 plus 1.600% of the amount in excess of $200,000 | 267 |
| (16) For taxable years beginning in 2022: | 268 |
| OHIO ADJUSTED GROSS INCOME LESS EXEMPTIONS (INDIVIDUALS) | 269 | ||
| OR | 270 | ||
| MODIFIED OHIO | 271 | ||
| TAXABLE INCOME (TRUSTS) | 272 | ||
| OR | 273 | ||
| OHIO TAXABLE INCOME (ESTATES) | TAX | 274 |
| $5,000 or less | .106% | 275 | ||
| More than $5,000 but not more than $10,000 | $5.30 plus .211% of the amount in excess of $5,000 | 276 | ||
| More than $10,000 but not more than $15,000 | $15.85 plus .423% of the amount in excess of $10,000 | 277 | ||
| More than $15,000 but not more than $20,000 | $37.00 plus .528% of the amount in excess of $15,000 | 278 | ||
| More than $20,000 but not more than $40,000 | $63.40 plus .634% of the amount in excess of $20,000 | 279 | ||
| More than $40,000 but not more than $80,000 | $190.20 plus .740% of the amount in excess of $40,000 | 280 | ||
| More than $80,000 but not more than $100,000 | $486.20 plus .845% of the amount in excess of $80,000 | 281 | ||
| More than $100,000 but not more than $200,000 | $655.20 plus .981% of the amount in excess of $100,000 | 282 | ||
| More than $200,000 | $1,636.20 plus 1.067% of the amount in excess of $200,000 | 283 |
| (17) For taxable years beginning in 2023: | 284 |
| OHIO ADJUSTED GROSS INCOME LESS EXEMPTIONS (INDIVIDUALS) | 285 | ||
| OR | 286 | ||
| MODIFIED OHIO | 287 | ||
| TAXABLE INCOME (TRUSTS) | 288 | ||
| OR | 289 | ||
| OHIO TAXABLE INCOME (ESTATES) | TAX | 290 |
| $5,000 or less | .053% | 291 | ||
| More than $5,000 but not more than $10,000 | $2.65 plus .106% of the amount in excess of $5,000 | 292 | ||
| More than $10,000 but not more than $15,000 | $7.95 plus .211% of the amount in excess of $10,000 | 293 | ||
| More than $15,000 but not more than $20,000 | $18.50 plus .264% of the amount in excess of $15,000 | 294 | ||
| More than $20,000 but not more than $40,000 | $31.70 plus .317% of the amount in excess of $20,000 | 295 | ||
| More than $40,000 but not more than $80,000 | $95.10 plus .370% of the amount in excess of $40,000 | 296 | ||
| More than $80,000 but not more than $100,000 | $243.10 plus .423% of the amount in excess of $80,000 | 297 | ||
| More than $100,000 but not more than $200,000 | $327.70 plus .491% of the amount in excess of $100,000 | 298 | ||
| More than $200,000 | $818.70 plus .533% of the amount in excess of $200,000 | 299 |
| (18) For taxable years beginning in 2024 or thereafter, no | 300 |
| tax. | 301 |
| Except as otherwise provided in this division, in August of | 302 |
| each year, the tax commissioner shall make a new adjustment to the | 303 |
| income amounts prescribed in this division by multiplying the | 304 |
| percentage increase in the gross domestic product deflator | 305 |
| computed that year under section 5747.025 of the Revised Code by | 306 |
| each of the income amounts resulting from the adjustment under | 307 |
| this division in the preceding year, adding the resulting product | 308 |
| to the corresponding income amount resulting from the adjustment | 309 |
| in the preceding year, and rounding the resulting sum to the | 310 |
| nearest multiple of fifty dollars. The tax commissioner also shall | 311 |
| recompute each of the tax dollar amounts to the extent necessary | 312 |
| to reflect the new adjustment of the income amounts. The rates of | 313 |
| taxation shall not be adjusted. | 314 |
| The adjusted amounts apply to taxable years beginning in the | 315 |
| calendar year in which the adjustments are made and to taxable | 316 |
| years beginning in each ensuing calendar year until a calendar | 317 |
| year in which a new adjustment is made pursuant to this division. | 318 |
| The tax commissioner shall not make a new adjustment in any year | 319 |
| in which the amount resulting from the adjustment would be less | 320 |
| than the amount resulting from the adjustment in the preceding | 321 |
| year. The commissioner shall not make a new adjustment for taxable | 322 |
| years beginning in 2013, 2014, or 2015. | 323 |
| (B) If the director of budget and management makes a | 324 |
| certification to the tax commissioner under division (B) of | 325 |
| section 131.44 of the Revised Code, the amount of tax as | 326 |
| determined under division (A) of this section shall be reduced by | 327 |
| the percentage prescribed in that certification for taxable years | 328 |
| beginning in the calendar year in which that certification is | 329 |
| made. | 330 |
| (C) The levy of this tax on income does not prevent a | 331 |
| municipal corporation, a joint economic development zone created | 332 |
| under section 715.691, or a joint economic development district | 333 |
| created under section 715.70 or 715.71 or sections 715.72 to | 334 |
| 715.81 of the Revised Code from levying a tax on income. | 335 |
| (D) This division applies only to taxable years of a trust | 336 |
| beginning in 2002 or thereafter. | 337 |
| (1) The tax imposed by this section on a trust shall be | 338 |
| computed by multiplying the Ohio modified taxable income of the | 339 |
| trust by the rates prescribed by division (A) of this section. | 340 |
| (2) A resident trust may claim a credit against the tax | 341 |
| computed under division (D) of this section equal to the lesser of | 342 |
| (1) the tax paid to another state or the District of Columbia on | 343 |
| the resident trust's modified nonbusiness income, other than the | 344 |
| portion of the resident trust's nonbusiness income that is | 345 |
| qualifying investment income as defined in section 5747.012 of the | 346 |
| Revised Code, or (2) the effective tax rate, based on modified | 347 |
| Ohio taxable income, multiplied by the resident trust's modified | 348 |
| nonbusiness income other than the portion of the resident trust's | 349 |
| nonbusiness income that is qualifying investment income. The | 350 |
| credit applies before any other applicable credits. | 351 |
| (3) The credits enumerated in divisions (A)(1) to (13) of | 352 |
| section 5747.98 of the Revised Code do not apply to a trust | 353 |
| subject to division (D) of this section. Any credits enumerated in | 354 |
| other divisions of section 5747.98 of the Revised Code apply to a | 355 |
| trust subject to division (D) of this section. To the extent that | 356 |
| the trust distributes income for the taxable year for which a | 357 |
| credit is available to the trust, the credit shall be shared by | 358 |
| the trust and its beneficiaries. The tax commissioner and the | 359 |
| trust shall be guided by applicable regulations of the United | 360 |
| States treasury regarding the sharing of credits. | 361 |
| (E) For the purposes of this section, "trust" means any trust | 362 |
| described in Subchapter J of Chapter 1 of the Internal Revenue | 363 |
| Code, excluding trusts that are not irrevocable as defined in | 364 |
| division (I)(3)(b) of section 5747.01 of the Revised Code and that | 365 |
| have no modified Ohio taxable income for the taxable year, | 366 |
| charitable remainder trusts, qualified funeral trusts and preneed | 367 |
| funeral contract trusts established pursuant to sections 4717.31 | 368 |
| to 4717.38 of the Revised Code that are not qualified funeral | 369 |
| trusts, endowment and perpetual care trusts, qualified settlement | 370 |
| trusts and funds, designated settlement trusts and funds, and | 371 |
| trusts exempted from taxation under section 501(a) of the Internal | 372 |
| Revenue Code. | 373 |
| Sec. 5747.027. (A) As used in this section, "income tax | 374 |
| expenditure" means any credit, deduction, exemption, or other tax | 375 |
| provision in the Revised Code that effectively exempts income from | 376 |
| the tax imposed under section 5747.02 of the Revised Code, except | 377 |
| for any such provision required to be allowed under federal law. | 378 |
| (B) For taxable years beginning on or after January 1, 2015, | 379 |
| but before January 1, 2024, a taxpayer shall not claim or take | 380 |
| more than the following percentage of the amount of any income tax | 381 |
| expenditure that the taxpayer is otherwise entitled to take or | 382 |
| claim: | 383 |
| (1) For taxable years beginning in 2015, ninety per cent. | 384 |
| (2) For taxable years beginning in 2016, eighty per cent. | 385 |
| (3) For taxable years beginning in 2017, seventy per cent. | 386 |
| (4) For taxable years beginning in 2018, sixty per cent. | 387 |
| (5) For taxable years beginning in 2019, fifty per cent. | 388 |
| (6) For taxable years beginning in 2020, forty per cent. | 389 |
| (7) For taxable years beginning in 2021, thirty per cent. | 390 |
| (8) For taxable years beginning in 2022, twenty per cent. | 391 |
| (9) For taxable years beginning in 2023, ten per cent. | 392 |
| (C) Nothing in this section prohibits a taxpayer disallowed | 393 |
| from claiming the full amount of a credit because of this section | 394 |
| against the tax imposed under section 5747.02 of the Revised Code | 395 |
| from claiming the credit amount so disallowed against another tax, | 396 |
| provided the credit is authorized to be claimed against that other | 397 |
| tax. | 398 |
| Sec. 5747.41. (A) For the same purposes for which the tax is | 399 |
| levied under section 5747.02 of the Revised Code, there is hereby | 400 |
| levied a withholding tax on every qualifying pass-through entity | 401 |
| having at least one qualifying investor who is an individual and | 402 |
| on every qualifying trust having at least one qualifying | 403 |
| beneficiary who is an individual. The withholding tax imposed by | 404 |
| this section is imposed on the sum of the adjusted qualifying | 405 |
| amounts of a qualifying pass-through entity's qualifying investors | 406 |
| who are individuals and on the sum of the adjusted qualifying | 407 |
| amounts of a qualifying trust's qualifying beneficiaries, at the | 408 |
|
rate | 409 |
| this section. | 410 |
| The tax imposed by this section applies only if the | 411 |
| qualifying entity has nexus with this state under the Constitution | 412 |
| of the United States for any portion of the qualifying entity's | 413 |
| qualifying taxable year, and the sum of the qualifying entity's | 414 |
| adjusted qualifying amounts exceeds one thousand dollars for the | 415 |
|
qualifying entity's qualifying taxable year | 416 |
| | 417 |
| 418 | |
| 419 | |
| 420 |
| (B) The rate of the tax levied in division (A) of this | 421 |
| section shall be one of the following: | 422 |
| (1) For qualifying taxable years beginning in or before 2014, | 423 |
| five per cent. | 424 |
| (2) For qualifying taxable years beginning in 2015, four and | 425 |
| one-half per cent. | 426 |
| (3) For qualifying taxable years beginning in 2016, four per | 427 |
| cent. | 428 |
| (4) For qualifying taxable years beginning in 2017, three and | 429 |
| one-half per cent. | 430 |
| (5) For qualifying taxable years beginning in 2018, three per | 431 |
| cent. | 432 |
| (6) For qualifying taxable years beginning in 2019, two and | 433 |
| one-half per cent. | 434 |
| (7) For qualifying taxable years beginning in 2020, two per | 435 |
| cent. | 436 |
| (8) For qualifying taxable years beginning in 2021, one and | 437 |
| one-half per cent. | 438 |
| (9) For qualifying taxable years beginning in 2022, one per | 439 |
| cent. | 440 |
| (10) For qualifying taxable years beginning in 2023, one-half | 441 |
| of one per cent. | 442 |
| (11) For qualifying taxable years beginning in 2024 or | 443 |
| thereafter, no tax. | 444 |
| Section 2. That existing sections 5747.02 and 5747.41 of the | 445 |
| Revised Code are hereby repealed. | 446 |
