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Details:
• Tax Rate Freeze:
Recently, state law was revised to maintain tax rates at 2008 levels. As a result, state income tax rates will remain 16.8 percent lower than they were five years ago.
• Larger Personal Exemption: The personal and dependent income tax exemption increased to $1,550 for the 2009 taxableyear, up from $1,500 for 2008.
• Low Income Tax Credit: Taxpayers whose Ohio taxable income is $10,000 or less are entitled to a tax credit that results in zero tax liability. |