The Ohio Senate unanimously passed the much-anticipated House Bill 197 to address several items during the COVID-19 health and economic crisis. Some of the key tax provisions include:
- The extension of the state and school districting income tax returns for individual filers from April 15th to July 15th to mirror the federal deadlines
- The extension of the state-administered municipal net profit tax return for businesses filers from April 15th to July 15th to mirror the federal deadlines
- Changing the due date for estimated taxes and waiving any penalties and interest associated with the extensions of time to file.
The full text of the legislation can be read here.
UPDATE: March 27, 2020 5:00PM
Ohio Extending Income Tax Filing and Payment Deadline
Tax Commissioner Jeff McClain today announced that Ohio will be following the federal government and IRS in extending the deadline to file and pay the state income tax.
The new deadline is July 15, an extension of approximately three months from the original deadline of April 15.
Commissioner McClain said the extension is intended to provide some relief to taxpayers and help offset some of the economic impact of the coronavirus and the public safety measures adopted to contain its spread.
As with the IRS extension, Ohio will be waiving penalty on tax due payments made during the extension. Also, thanks to a legislative agreement between Governor Mike DeWine and the General Assembly, there will be no interest charges on payments made during the extension.
The filing extension, and waiver of penalty and interest, will be available to those filing the Ohio individual income tax, the school district income tax, the pass-through entity tax, and to those taxpayers that have opted in to have the commissioner administer the municipal net profit tax through the state’s centralized filing system.
Individuals, estates, trusts and certain businesses making quarterly estimated income tax payments, have also been granted additional time to file and pay without penalty or interest. The first and second quarterly payments, normally scheduled for April 15 and June 15 for most taxpayers, have both been extended to July 15.
The Department of Taxation will be issuing more detailed guidelines in the next few days.