❌ HB14
Incorporate Internal Revenue Code changes into Ohio law
Summary
This bill amends section 5701.11 of the Revised Code to incorporate changes in the Internal Revenue Code as of March 15, 2023, into Ohio law. It allows taxpayers to irrevocably elect to incorporate federal tax provisions that differ from state provisions for taxable years ending after February 17, 2022, and before the effective date of the bill. The bill is declared an emergency measure to help taxpayers avoid increased compliance costs on their 2024 tax returns.
Rationale
The bill's incorporation of federal tax changes may conflict with the Libertarian Party's principles of minimal government intervention and taxation. However, it does provide a mechanism for taxpayers to choose their tax provisions, which aligns somewhat with the LPO's support for individual rights and limited government. The mixed nature of the bill's provisions leads to moderate alignment scores.
Risks and Concerns
- Potential increase in government control over taxation
- May complicate taxpayer compliance with conflicting tax laws