❌ SB9
Incorporate Internal Revenue Code changes into Ohio law
Current Status: In House Committee (Ways and Means)
Summary
SB9 aims to update Ohio law by incorporating recent changes to the Internal Revenue Code made after March 15, 2023, into the state's tax regulations. It declares an emergency to facilitate smoother tax compliance for taxpayers for the 2024 tax year by avoiding unnecessary adjustments.
Rationale
The legislation aligns with the Legislative Platform's emphasis on efficient tax administration and taxpayer convenience, yet it may not fully align with the LPO's positions which could be more focused on minimizing state revenue changes.
Risks and Concerns
- Potential for increased complexity in tax compliance for some taxpayers.
- Immediate implementation may confuse taxpayers who are unaware of the changes.
- Relying on recent federal changes may lead to instability if federal tax laws change frequently.