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Ohio enacts municipal income tax reform

Concluding a process that spanned several years, Ohio Gov. John Kasich signed legislation on Dec. 19 reforming Ohio’s municipal income tax system, which is required to be adopted by all municipalities levying an income tax on and after Jan. 1, 2016. The legislation provides for a uniform tax base and other definitions, adopts a uniform five-year net operating loss carryforward for both corporations and individuals to be phased in over a six-year period, and limits the ability of municipalities and tax administrators to adopt conflicting rules.

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