Employer Withholding Tables Revised - Effective September 1st, 2013
This alert is to advise employers that the Ohio Department of Taxation has issued new employer withholding tables to be used for payrolls that end on or after September 1st , 2013. The new tables take into consideration the income tax rate reductions that went into effect when Amended Substitute House Bill 59 was signed into law. The tables reflect a 9% reduction in the withholding rates previously in effect for 2013, to conform with the 8.5% and 0.5% decrease in individual income tax rates in effect for taxable years 2013 and 2014, respectively. The new tables are to be used for the remainder of the 2013 calendar year and for all of 2014. The new withholding tables are posted on the Employer Withholding Tax Web page, which can be accessed by clicking here. The tables include the percentage method for calculating withholding as well as daily, weekly, biweekly, semimonthly and monthly tables.
We will update you when the Round 7 Tax Update is available.
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