Connecticut Definition of “Residential Building”

Definition of “Residential Building” Expanded for Purposes of the Crumbling Foundation Subtraction Modification Current law allows a taxpayer to subtract the amount of any financial assistance received from the Crumbling Foundations Assistance Fund, or paid to or on behalf of the owner of a residential building, to repair concrete foundations that have deteriorated due to the [...]

Connecticut Teachers’ Retirement System Income

Connecticut Teachers’ Retirement System Income Under prior law, retired teachers were only allowed to claim the teachers’ pension subtraction on the income they received from the Connecticut Teachers’ Retirement System. For taxable years beginning on or after January 1, 2021, retired teachers are now allowed to claim either the teachers’ pension subtraction or the [...]

Ohio Nonresident Statement

Ohio Nonresident Statement Nonresidents who meet certain required criteria and wish to establish an irrebuttable presumption of non-Ohio residency for the tax year may check these boxes instead of filing form IT NRS. The five required criteria are listed below and on page 48 under the heading, “What Criteria are Required to File the Ohio Nonresident Statement?” Nonresidents who [...]

Ohio Income Tax Tables

**Ohio Income Tax Tables. Beginning with tax year 2021, individuals with Ohio taxable nonbusiness income of $25,000 or less are not subject to Ohio income tax. Additionally, Ohio taxable nonbusiness income in excess of $110,650 is taxed at 3.99%. All other rates were reduced by 3%. See pages 31-37 of the state [...]

Ohio Modified Adjusted Gross Income

Modified Adjusted Gross Income Modified adjusted gross income is your Ohio adjusted gross income (Ohio IT 1040, line 3) plus your business income deduction (Ohio Schedule of Adjustments, line 11). If you did not take a business income deduction, your modified adjusted gross income matches your Ohio adjusted gross income. You will need to know your modified adjusted gross income to determine [...]