HB14

Ohio HB14 incorporates changes from the Internal Revenue Code into Ohio tax law.

Ohio HB14 amends the state's tax code to align with recent changes in the Internal Revenue Code. This includes updating references to the Internal Revenue Code and other federal tax laws to reflect their current status. The bill allows taxpayers to make an irrevocable election to incorporate federal tax provisions into their Ohio tax returns, avoiding additional compliance costs. The changes apply to tax years ending after February 17, 2022, and before the bill's effective date, ensuring taxpayers can benefit from the updated federal tax laws without incurring extra expenses.