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Ohio HB 166 completes the process that began decades ago regarding whether compensation arrangements commonly referred to as supplemental executive retirement plans or SERPs are exempt from Ohio municipal income taxes. This road began with the interpretation given to the municipal income tax ordinance exemption for “pensions,” which was debated through the Board of Tax Appeals and the Ohio state courts. The road then continued with the 2014 enactment of Ohio HB 5 and a state wide legislative municipal income tax exemption for “pensions,” but which was limited by municipal income tax ordinances to qualified retirement arrangements. Now, Ohio HB 166, effective for 2020, defines “pensions” to include all employer provided benefits that are payable after termination of service because of retirement or disability, without regard to whether the arrangement is a qualified retirement plan described in Section 401 of the Internal Revenue Code. <a href="https://www.thompsonhine.com/uploads/1135/doc/Ohio_HB_166_Exempts_SERPs_from_Municipal_Income_Taxation.pdf" target="_blank" rel="noreferrer noopener">Read here</a> for more detail.

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The detailed explanation discusses the following:

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<a href="https://www.thompsonhine.com/professionals/ferrante-francesco" target="_self" rel="noopener">Francesco A. Ferrante</a> Thompson Hine LLP 937.443.6740 <a href="mailto:Francesco.Ferrante@ThompsonHines.com">Francesco.Ferrante@ThompsonHines.com</a>

https://admin.thompsonhinestaging.contentpilot.net/wp-content/uploads/2022/04/Ohio_HB_166_Exempts_SERPs_from_Municipal_Income_Taxation.pdf

Ohio Municipal Income Taxes

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