OH HB69

Allows Ohio taxpayers to deduct the full amount of federal bonus depreciation (IRC Section 168(k)) and enhanced Section 179 expensing in a single tax year, beginning with taxable years starting January 1, 2025

Eliminates the previous requirement that taxpayers add back five-sixths of these depreciation expenses to Ohio adjusted gross income and then deduct them over five subsequent years

Provides a transition rule for taxpayers who previously added back depreciation expenses under the old rules, allowing them to either continue deducting the remaining amounts over the original schedule or elect to deduct the entire remaining balance in their first taxable year beginning after January 1, 2025

Applies to both individual income tax (Chapter 5747) and pass-through entity taxation (Chapter 5733), affecting calculations for qualifying pass-through entities and their investors

Amends Ohio Revised Code sections 5733.40, 5747.01, and 5747.05, sponsored by Representatives Peterson and Claggett in the 136th General Assembly (2025-2026)