OH HB30

Phases Ohio's state income tax down to a flat 2.75% rate over two years, eliminating the current graduated bracket structure that includes higher rates of 3.5% and 3.125% for income above $100,000

For taxable year 2024, maintains two brackets: 2.75% on income between $26,050-$100,000, and 3.5% on income above $100,000

For taxable year 2025, reduces to two brackets: 2.75% on income between $26,700-$102,400, and 3.125% on income above $102,400

Beginning in taxable year 2026 and thereafter, implements a single flat rate of 2.75% on all income above $27,350, with no tax owed on income below that threshold

Suspends the Tax Commissioner's annual inflation adjustments to income brackets in 2025 and 2026 during the phase-in period