![]() Ernst & Young LLP assumes no obligation to inform the reader of any changes in tax laws or other factors that could affect the information contained herein.Ĭopyright © 1996 – 2024, Ernst & Young LLPĪll rights reserved. The reader should contact his or her Ernst & Young LLP or other tax professional prior to taking any action based upon this information. The reader also is cautioned that this material may not be applicable to, or suitable for, the reader's specific circumstances or needs, and may require consideration of non-tax and other tax factors if any action is to be contemplated. The information contained herein is general in nature and is not intended, and should not be construed, as legal, accounting or tax advice or opinion provided by Ernst & Young LLP to the reader. Kristie Lowery ( Kenneth Hausser ( Debera Salam ( by NTD’s Tax Technical Knowledge Services group Andrea Ben-Yosef, legal editor.Workforce Tax Services - Employment Tax Advisory Services The revised 2023 income tax withholding tables, once published, will be available here.įor additional information concerning this Alert, please contact: The revised 2021 withholding tables were effective with wages paid on and after September 1, 2021. ![]() 110, enacted on July 1, 2021, and effective January 1, 2021, reduced Ohio's individual income tax rates by 3%, eliminated the top income tax bracket for Ohio adjusted gross income (AGI) over $217,000, and reduced the tax rate for Ohio AGI over $110,650 to 3.99%. This is the second time since 2021 that the Ohio legislature has retroactively lowered its personal income tax rates. The supplemental rate of withholding for bonuses and irregular wage payments is set by law at 3.5%. ( For information concerning other tax changes under H.B. As under current law, those with Ohio annual taxable income of less than $26,050 are exempt from Ohio personal income tax. ![]() On July 3, 2023, Governor Mike DeWine signed HB 33, which retroactive to January 1, 2023, gradually reduces the Ohio personal income tax rates over two years, collapsing the current four tax brackets to two by 2024. Ohio law reduces personal income tax rates retroactive to January 1, 2023 ![]()
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