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Ohio Small Business Income Deduction

Posted by Admin Posted on Nov 15 2019

The Ohio Small Business Income Deduction enables a business owners to deduct 75%, up to $250,000, of business income from the Ohio adjusted gross income (OAGI) they report on their Ohio personal income tax return.  If the business has multiple owners, each is eligible to claim the deduction.  The remaining business income will be taxed at a graduated rate up to 3%.

Starting January 1, 2020, the Ohio Small Business Income Deduction will no longer be available to lawyers and lobbyists.