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IMPORTANT NEWS THAT IMPACTS YOUR PRACTICE – Update on Efforts to Reverse Tax Increase on Ohio Lawyers
Post on August 7th, 2019
Since SOME of you are NOT members of the OSBA, you may not have heard this news…
On July 18, 2019, Governor DeWine signed H.B. 166 (Ohio’s main operating budget) into law. A consequence of H.B. 166 is that lawyers will no longer be able to claim the state Business Income Deduction or “BID” which previously allowed those deriving income from any pass-through entity (LLCs, LLPs, etc.) to pay no tax on the first $250,000 of their income and to pay a flat 3% on any income above that threshold.
The Ohio State Bar Association has been aggressively fighting this change.
Click here to read all about it. To get involved click here.
OSBA will also present a special one-hour CLE live interactive webinar on August 21 at
1 pm, with the OSBA lobbyist and tax experts discussing the impact of the BID on you and your practices. Registration is $30 for OSBA members ($75 for non-members) with all proceeds going to support the OSBA Advocacy Support Fund. Register here.
We urge you to join with the OSBA and other bar associations around the state and take a stand on behalf of your profession and Ohio attorneys!
Steve Couch
President and CEO
Ohio Bar Liability Insurance Company