S.B. No. 210 Summary

• Amends Ohio income tax rates in section 5747.02 of the Revised Code to reduce tax rates by approximately 4% across all income brackets starting with taxable years beginning in 2014.

• For 2014, reduces the lowest tax bracket from 0.534% to 0.513% and the highest bracket from 5.392% to 5.176%, with proportional reductions applied to all intermediate brackets.

• Makes the 4% rate reduction permanent for taxable years beginning in 2015 and thereafter, with adjusted rates applied to all income levels including individuals, trusts, and estates.

• Applies annual inflation adjustments to income bracket thresholds based on the gross domestic product deflator, but keeps the reduced tax rates constant without further adjustment.

• Maintains existing provisions for tax credits, municipal income taxes, and trust taxation while implementing the permanent statewide income tax rate reduction.