Get OH ODT IT 2023 2015-2024

The CAT rate of 0.26% applies to the taxpayer's taxable gross receipts for the tax period after subtracting the exclusion amount for the calendar year.

Flattens and consolidates Ohio income tax brackets from four to two by tax year 2024. The top income tax bracket will also be reduced from 3.99 to 3.75% in 2023.

Ohio state income tax brackets depend on taxable income and residency status. The state has five tax rates: 0%, 2.76%, 3.22%, 3.68% and 3.99%.

The 2023 tax year—meaning the return you'll file in 2024—will have the same seven federal income tax brackets as the 2022-2023 season: 10%, 12%, 22%, 24%, 32%, 35% and 37%. Your filing status and taxable income, including wages, will determine the bracket you're in.

Tax Tables 2023 / 2024 Tax Year:Taxable Income (R)Rates of Tax0 – 237,10018% of taxable income237,101 – 370,50042,678 + 26% of taxable income above 237,100370,501 – 512,80077,362 + 31% of taxable income above 370,5004 more rows

The CAT exclusion amount is increased to $3 million for calendar year 2024 and $6 million for calendar years 2025 and beyond. Beginning with tax year 2024, taxpayers with calendar year taxable gross receipts less than the annual exclusion amount will not be required to file a return.

Ohio Tax Brackets for Tax Year 2022 Tax Rate:0% Income Range:$0 - $26,050. Taxes Due:0% of Income. Tax Rate:2.765% Income Range:$26,051 - $46,100. Taxes Due:$360.69 + 2.765% Tax Rate:3.226% Income Range:$46,100 - $92,150. ... Tax Rate:3.688% Income Range:$92,150 - $115,300. ... Tax Rate:3.990% Income Range:$115,300+

Personal income tax bracket reduction 2023 Brackets2023 Tax Rate2024 Tax Rate$0 - $26,0500%0%Over $26,050 - $100,0002.75%2.75%Over $100,000 - $115,3003.688%3.688%Over $115,3003.75% Jul 13, 2023