OH HB543

Allows individuals receiving Ohio unemployment compensation benefits to elect voluntary withholding of 2% for Ohio state income tax purposes.

Requires the director of job and family services to inform unemployment benefit applicants about income tax obligations, estimated tax payment requirements, and the option to elect withholding at the time of application.

Permits individuals to change their withholding election once per benefit year after the initial election.

Requires the director to remit withheld amounts to the tax commissioner by the tenth banking day of each month and file annual returns by January 31st.

Treats withheld amounts as a refundable tax credit against Ohio income tax liability, claimable in a specified order under section 5747.98 of the Revised Code.