OHIO Tax Returns with ExpressTaxRefund.com! |
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Looking to cut down on tax preparation time? You can file your OHIO income taxes and federal taxes at the same time using ExpressTaxRefund.com. ExpressTaxRefund.com simplifies the tax preparation process by automatically filling in any matching information into both your state and federal tax forms. Ohio has nine different brackets of taxation, based on income. The following lists the different tax rates for each income level:
Retirement Income Exclusions Social Security benefits are not taxed by the state of Ohio. In addition there are four other tax credits available to retirees within the state. A credit of anywhere between $25 and $200 is available depending on the type of retirement income. Taxpayers over the age of 65 can claim a credit of $50 on their return. Retirees who take distributions in a lump sum may qualify for a lump sum credit at tax time, however you are not eligible to claim retirement income credit in future years. Additionally, you can't take the $50 senior credit if you take the lump sum credit. Those receiving military pensions can deduct any income not exclude or deducted through taxes. Employees who work in an Ohio locality may be taxed on income at rates between .4% to 3% depending on the employer. Pensions, disability benefits or dividend and interest income is exempt from local taxes. However, a school tax, ranging between .25% to 2% of your income may be assessed. It's recorded that approximately 30% of residents are assessed a school tax. The school district determines whether you are taxed by Ohio standards, excluding retirement income, interest and dividends, or you can be taxed on any earned interest. Residency As a resident of Ohio, you must pay taxes on all of your income, whether it was earned in state or not. If you paid taxes on income earned in other places, you may be eligible for a credit of the taxes paid. Non-residents only have to pay tax on income they earned in the state. A resident is one who maintains a domicile within the state. This means that they have multiple periods of contact within the tax year. A contact period consists of spending a part of two consecutive days in Ohio, calculated by the number of nights spent within the state. A domicile is generally the permanent home in which one lives. ExpressTaxRefund.com supports all state income tax returns. Washington D.C. along with 41 states have income tax returns. If you live in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington or Wyoming, you only need to file your Federal Income Tax Return with the IRS. Benefits of using ExpressTaxRefund.com:
Take advantage of online E-Filing services available through ExpressTaxRefund.com Filing your tax return with ExpressTaxRefund.com is faster than ever. Choose direct deposit, and receive your tax refund even quicker! Be kept up to date on the status of your return. You can view the status of your tax return right through our website, with daily updates to your account and filing status with the IRS. Customer Support : |
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