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Income tax changes: Work-from-home could have big impact on city budgets Copyright Adobe and last updated 2021-07-11 21:36:55-04 Shifts toward more people working from home long-term could mean large income tax losses for many Ohio cities while other cities could reap more, according to local leaders and experts. The state legislature recently wrote into the two-year budget that Ohioans working from home in 2021 onward will pay income taxes based on their home office location, not the address of their employerâs empty office building. Many Ohio cities depend on income taxes to pay for a wide range of local services â police officers, firefighters and paramedics, parks, code enforcement, road repairs and snow plows. So where your municipal income taxes go every year has far-reaching implications. ....
Ohio cities try to calculate income tax hit from those working at home daily-jeff.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from daily-jeff.com Daily Mail and Mail on Sunday newspapers.
Ohio cities try to calculate income tax hit from those working at home cantonrep.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from cantonrep.com Daily Mail and Mail on Sunday newspapers.
How much of a hit? That s nearly impossible to tell. Here s why: Changes included in the state s two-year budget would allow commuters who live in one city but work in another to receive a refund for any income taxes their employers collected while their office sat vacant in 2021. Not all work-from-home employees will take advantage of the refund, though. If someone works in the same city as they live, that s a wash. If someone works in a city with a substantially similar tax rate as their home city, then they might not seek a refund because the amount would be minimal. In many cases, cities offer credits to offset the difference in income tax rates, complicating the equation. ....