Income Tax - Cincinnati News, FOX19-WXIX TV

Income Tax

State tax officials say plan would benefit wealthiest Ohioans

State tax officials say they can't back one option to simplify Ohio's income tax. The Ohio Department of Taxation says a plan before lawmakers would save about one (b) billion dollars for those making more than 100-thousand dollars a year. The agency says the burden would shift to those making middle incomes, and unfairly give them large tax increases for small income raises. Lawmakers are looking for a way to reduce the nine state income tax brackets. The plan by a group of House Republicans also would eliminate the income tax for married joint filers making less than 20-thousand dollars a year. It would cut the highest tax rate nearly in half to three-point-nine percent, but everyone making more than 45-thousand dollars a year would pay it. Republicans stress the plan isn't complete.

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