Partnership Income – Ohio Withholding

December 17th, 2018

capture2The Ohio Business Deduction allows a Partner to deduct from their Ohio income up to $250,000 ($125,000 MFS) of Partnership income that is passed through from the Partnership.  Guaranteed payments made to the partner are also included for the deduction, if the partner owns 20% or more of the partnership.

You may want to consider adjusting your Ohio estimated payments since no tax will be due on Partnership income up to these amounts.

Let us know if you have any questions.

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