Provisions To Clean Up Ohio's Tax Law
A Guest Column by Senator Scott Oelslager
 
 
COLUMBUS - 
Promoting efficiency and saving our taxpayers and businesses from unnecessary hassle is a worthy goal.  During the month of March, I co-sponsored two significant pieces of legislation that address Ohio tax law.

 
Senate Bill 26, sponsored by State Senator Larry Obhof (R-Medina), reduces filing fees by more than 20 percent for Ohio’s businesses.  This legislation would save Ohio employers approximately $2 million per year.  The proposed filing fee reduction was brought to us by Ohio Secretary of State Jon Husted, who is in charge of accepting and processing new business filings.  Reducing filing fees for Ohio’s businesses is an opportunity to foster economic growth and attract new industries to our great state.  The companion bill, House Bill 3 sponsored by State Representatives Mark Romanchuk (R-Ontario) and Tim Derickson (R-Oxford), recently passed out of Ohio House Economic and Workforce Development Committee.
 
The second proposal that I co-sponsored was House Bill 19, sponsored by State Representative Gary Scherer (R-Circleville).  This bill incorporates changes found in the federal Tax Increase Prevention Act of 2014 into Ohio income tax law.  The Senate Finance Committee heard testimony from the Ohio Department of Taxation and the Ohio Society of CPAs on the benefits of this legislation.  Without House Bill 19, tax payers would notice increased complexity during the tax filing season.  By aligning to federal tax law, the Senate has assisted in preventing a $22 million tax increase.  The importance of this legislation is substantial, and it included an emergency clause which allows the bill to go into immediate effect upon approval by the governor, who just signed the bill this week.
 
The Ohio General Assembly is committed to efficiency and saving taxpayer time and money through common sense legislation.  As chairman of the Senate Finance Committee, I will continue to review the state’s budget and tax law to ensure the health of our great state’s economy.
 
As always, please do not hesitate to contact my office if you have any questions or concerns about the matters we are discussing at the Statehouse.  I can be reached by phone at (614) 466-6026, by e-mail at Oelslager@OhioSenate.gov, or by writing State Senator Scott Oelslager, 1 Capitol Square, Columbus, OH 43215.

 
 
 
  
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