OH HB199

Modifies the joint filer credit computation for married couples filing jointly in Ohio beginning in 2024 by replacing the tiered percentage system with a calculation based on the difference between the joint return tax and the minimum combined tax if spouses filed separately.

For taxable years 2023 and earlier, maintains the existing tiered credit system with percentages ranging from 5% to 20% based on modified adjusted gross income brackets up to $75,000.

For taxable years 2024 and beyond, calculates the credit as the joint return tax minus what the combined tax would be on separate returns, after allowing other credits, with adjustments and credits optimized to minimize combined tax liability.

Defines "minimum combined amount of tax" as the sum of taxes owed on separate returns with all possible adjustments and credits claimed in the manner that produces the least combined tax due.

Requires claimants to furnish supporting information prescribed by the tax commissioner and maintains the nonrefundable credit status for joint filers with each spouse having at least $500 in qualifying adjusted gross income.