Ohio Tax Department Proposes Amendments to Rules for Filing Balance Sheets

The Ohio Department of Taxation has proposed amendments to regulations concerning personal property tax returns, income tax credits, and withholding on supplemental compensation. The proposed rules require taxpayers engaged in business to file balance sheets with personal property tax returns, outline documentation needed to support joint filing and residency credits for income tax purposes, and establish withholding requirements for regular and supplemental compensation. Ohio Dep’t of Taxation, Proposed Regs. Sections 5703-3-03, 5703-7-03, 5703-10-03, 10/08/25]