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.