December Ohio Information Releases

• In 2006, Ohio enacted legislation making a number of changes to the rules governing when an individual is presumed to be domiciled in Ohio. The Tax Department has updated its residency guidance by issuing a new release for taxable years beginning after 2006. Ohio Tax Information Release IT 2007-08, 12/01/2007
• Ohio's Department of Revenue is reminding taxpayers, that beginning in 2008, personal income tax withholding rates and taxes on tangible personal property paid by businesses will be decreased. The commercial activity tax, which is being phased in to partially offset revenue lost from other tax cuts, will increase to 0.208%, effective April 1, 2008. Finally, military pensions are exempt from income tax, beginning January 1, 2008. Ohio Department of Taxation Press Release, 12/31/2007