RITA Tax Rate Increases
The Regional Income Tax Agency (RITA) has announced municipal income tax rate increases as a result of recent elections. The majority of these rate increases, listed below, will take effect July 1, 2017.
News & Tech Tips
Additional BWC Rebate Finalized
The Ohio Bureau of Workers’ Compensation (BWC) has finalized a plan to distribute a refund of more than $1 billion dollars to Ohio’s private and public employers. This will be the third time in four years that the BWC has issued a refund to employers.
The BWC is preparing to send rebates to more than 200,000 private and public employers. Eligible employers will begin receiving checks in July totaling 66 percent of their premiums for the policy year that ended June 30, 2016 (calendar year 2015 for public employers). Further information on this rebate and eligibility requirements is available here.
In addition to this rebate, the BWC also announced a $44 million dollar investment in workplace safety, health and wellness. This initiative includes a new wellness program and funding for specific programs to help firefighters and those who work with children and adults with disabilities. It also includes an education campaign to address common injuries at work and in the home. A fact sheet on the initiative can be found here.
We hope this information has been helpful to you. If you have questions about how this rebate or initiative may affect you, please contact your Whalen & Company representative.
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The latest on Trump’s proposed tax reform
On April 26, 2017, Director of the National Economic Council Gary Cohn and Treasury Secretary Steven Mnuchin, on behalf of the Trump Administration, revealed “core principles” of the President’s tax reform plan.
BWC Proposes Additional Rebate
Governor Kasich along with the Ohio Bureau of Workers’ Compensation (BWC) announced a proposal to return more than $1 billion dollars to Ohio’s private and public employers.
Offers of Health Coverage – Employer Shared Responsibility Payment & Filing Requirements
An employer that sponsors an insured health plan (a health plan that provides coverage by purchasing insurance from a health insurance issuer) will not report as a provider of health coverage under Code Section 6055.