COLUMBUS — State Senator Larry Obhof today announced that Governor Kasich has signed his legislation that updates Ohio’s tax code to avoid conflicting state and federal tax rules. Senate Bill 28 will help prevent confusion during tax season and enable Ohioans to take full advantage of all the tax credits and reductions to which they are entitled. The bill will save taxpayers an estimated $14 million in fiscal year 2013.
“This bill will ensure that Ohioans are not faced with two different sets of rules when filing their tax returns,” Obhof said. “Conforming our tax code will save taxpayers millions of dollars, and I am grateful to my colleagues for recognizing the importance of this issue and acting swiftly.”
The Legislature approved a similar measure late last year. In January, however, federal lawmakers made changes to the federal tax code that required Ohio to again conform its tax code. In addition, Senate Bill 28 contains provisions designed to improve Ohio’s economy and make the state more attractive to employers looking to locate or expand in Ohio.