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Should Business Owners Be Penalized for Staying Ohio Residents? A Review of Ohio Law

PDF/Printer Friendly Version The Ohio Business Income Deduction and Lower Tax Rate The term "business income" is used nationally in state statutes to describe the type of income that is taxed across multiple states, often referred to as apportionable income. Alternatively, income that does not meet the definition of "business income" is considered "nonbusiness income," which is allocated to and taxed in one state. As a general rule, most of the income of a business is considered "business income." Historically, the Ohio Department of Taxation ("ODT") has taken a broad view of the definition of "business income." In 2013, the Ohio legislature first enacted the small business income tax de

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