The Ohio House of Representatives passed H.B. 166 last week with a provision that will impact Ohio S-Corp businesses. Specifically, language was inserted to reduce the business income deduction (BID) from $250,000 to $100,000 and the language that removes the 3% cap on pass-through income above the deduction. The fiscal impact of this change is $1.2 billion annual tax increase on pass through entities in Ohio.
The budget bill is now in the Ohio Senate, please contact your State Senator with your concerns or send this HB 166 letter. Your State Senator based on your business address is:
$$LEGISLATOR: State Senate$$
ACEC Ohio's indemnification bill has been reintroduced this session. The bill is pending before the Ohio Civil Justice Committee and has had sponsor testimony as well as proponent testimony. Click here for HB 159 testimony. At this time, county officials, port authorities and airports have expressed concern that language in the bill limits the scope of damages to only "death or injury", which is not the case. The sponsor of the bill will convene an interested party meeting to work out differences. Please use the HB 159 Talking Points when talking with your clients or legislators about the bill.
This bill will establish a payment assurance program for registered design professionals, allowing architects, engineers, and surveyors to lien commercial property. The bill was introduced on April 24, 2019 and has not been assigned to a committee yet. To see full text of the bill SB 136
Additional information can be found on the ACEC Ohio website: State Issues