Posted July 15, 2014

Ohio Governor John Kasich signed a bill that increases the small business income deduction from 50 percent to 75 percent of the first $250,000 in net business income.

Last year the Ohio budget bill included significant tax law changes to deliver a $2.7 billion tax cut to individuals and businesses over the course of three years.

The business deduction percentage reverts back to 50 percent for taxable years after 2014.

For more information on the small business tax deductions, visit The OSU Agricultural Law & Taxation blog here. The OSU Agricultural Law & Taxation blog is an excellent resource for current issues involving agricultural and tax law in Ohio.