David Ebersole Comments on New Ohio Tax Relief Law

News / March 31, 2021

Associate David Ebersole is quoted in an article published on March 31, 2021, by Law360’s “Tax Authority” site. The article, “Ohio Offers Tax Relief For PPP Loans, Unemployment Benefits,” reports on a bill signed by Gov. Mike DeWine that will ensure Ohio law confirms to recent federal tax code changes, including matching the federal treatment of forgiven Paycheck Protection Program loans and excluding a portion of unemployment benefits from income tax.

Ebersole told the publication that the new Ohio law will simplify the tax filing for businesses that received PPP loans and also noted that the law equalizes the state's tax treatment for first-draw and second-draw PPP loans. Removing the disparities in the withholding rates for certain pass-through entities and matching them to the tax rate for business income for individuals is also a significant change for businesses, Ebersole said.

Read the article (registration required).

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