Ohio HB209 exempts tips from state, municipal, and school district income taxes.
Ohio HB209 amends the state's tax code to exempt tips from state, municipal, and school district income taxes. This bill defines "tips" as income, including gain or loss, from the sale, exchange, or other disposition of a stock option, the exercise of a stock option, or the sale, exchange, or other disposition of stock purchased under a stock option. The exemption applies to tips earned or received by residents and nonresidents in Ohio, provided they are not otherwise deducted or excluded in computing federal or Ohio adjusted gross income.
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