OH HB467

Amends Ohio Revised Code sections 5733.41 and 5747.41 to equalize pass-through entity withholding tax rates with the business income tax rate under section 5747.02.

Changes the withholding tax rate on qualifying pass-through entities with non-individual investors from 8.5% to a rate equal to the taxable business income tax rate under division (A)(4)(a) of section 5747.02.

Changes the withholding tax rate on qualifying pass-through entities and trusts with individual investors from 5% to a rate equal to the taxable business income tax rate under division (A)(4)(a) of section 5747.02.

Applies to qualifying taxable years beginning on or after January 1, 2023.

Repeals existing sections 5733.41 and 5747.41 in their entirety.