OH SB9

Amends Ohio Revised Code section 5701.11 to update Ohio's conformity with the federal Internal Revenue Code from March 15, 2023, to the bill's effective date

Allows taxpayers with taxable years ending after March 15, 2023, to irrevocably elect to use federal tax provisions in effect for that year, even if they differ from Ohio's otherwise applicable rules

Applies to references in Ohio tax code Title LVII and related sections governing franchise tax, motor fuel tax, and income tax calculations

Declared an emergency measure to take immediate effect, allowing taxpayers to avoid miscellaneous adjustments on 2024 tax returns that would increase compliance costs

Sponsored by Senator Blessing with bipartisan support from 16 cosponsors in the 136th General Assembly