COLUMBUS - 

On Sunday, Governor Kasich signed Senate Bill 2 into law, sponsored by State Senator Bob Peterson (R-Washington Court House), which harmonizes recent changes to the federal tax code with Ohio's income tax law, saving Ohioans up to $18.9 million in taxes.  

“As Ohioans begin filing last year's tax returns, it’s imperative that we make sure they have access to every possible deducation and credit they are entitled to,” said Peterson. “This bill provides the necessary updates to make sure no one pays more taxes than required.”  

Several changes were made to the federal tax code in 2015 necessitating the passage of Senate Bill 2 in order to avoid conflicting state and federal tax rules.

A few of the tax provisions extended or made permanent with the passage of Senate Bill 2 include the Enhanced Earned Income Tax Credit; tax-free distributions from individual retirement plans for charitable purposes; and deductions for qualified tuition and related expenses among others.  

Senator Peterson serves as the Chairman of the Senate Standing Committee on Ways and Means, the influential panel charged with oversight of Ohio’s tax code.

 
 
 
  
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