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Gov. DeWine, BWC Propose $1.6 billion Dividend to Ohio Employers

Posted by Zinner & Co. Tax Team on Apr 9, 2020 1:00:33 PM

Move made to ease COVID-19 financial impact

Ohio Gov. Mike DeWine and Ohio Bureau of Workers' Compensation (BWC) Administrator/CEO Stephanie McCloud today proposed giving up to $1.6 billion to Ohio employers this spring to ease the economic impact of the coronavirus pandemic on Ohio’s economy and business community.

"This is great news for Ohio’s businesses, and will assist in relieving some of the financial pressures many are experiencing,” said DeWine. “Administrator McCloud and I both encourage businesses to reinvest this money in the health and safety of their employees.” 

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Topics: Bureau of Worker's Compensation, ohio, Coronavirus, COVID-19

Voluntary Layoff Aversion Program

Posted by Zinner & Co. Tax Team on Mar 23, 2020 5:49:32 PM

During the current Coronavirus pandemic, many businesses are struggling and some, unfortunately, are forced to lay off their employees.

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Topics: ohio, Department of Job and Family Services, SharedWorks, Layoff

Ohio Issues Stay at Home Order

Posted by Zinner & Co. Tax Team on Mar 23, 2020 8:15:00 AM

Ohio Gov. Mike DeWine, Lt. Gov. Jon Husted, and Ohio Department of Health Director Amy Acton, M.D. MPH, announced Ohio will be under a "Stay at Home" order.

The order goes into effect beginning on March 23 at 11:59 p.m. and will remain in effect until 11:59 p.m. on April 6, unless the order is rescinded or modified.

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Topics: ohio, Coronavirus, COVID-19, Economic Injury Disaster Loan, U.S. Small Business Administration, SBA

Applications Being Accepted for Economic Injury Disaster Loan Program

Posted by Zinner & Co. Tax Team on Mar 20, 2020 10:32:20 AM

The State of Ohio announced the U.S. Small Business Administration (SBA) has approved their request to allow small businesses and nonprofits in Ohio to apply for low-interest, long-term loans of up to $2 million through the SBA’s Economic Injury Disaster Loan program.

“Timing is everything as we navigate this crisis,” said Gov. Mike DeWine. “We have to move quickly to not only ensure that Ohioans are safe, but also that they have the necessary support in place to weather this difficult situation. I appreciate the quick response by federal officials to provide the state’s small businesses and nonprofits with access to this resource.”

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Topics: ohio, Coronavirus, COVID-19, Small Business, Federal Assistance, U.S. Small Business Administration, SBA

Governor Signs Tax Break for Teachers, Attorneys and Lobbyists into Law

Posted by Zinner & Co. Tax Team on Nov 11, 2019 10:47:05 AM

Governor Mike DeWine has signed a bill into law that will allow Attorneys and Lobbyists to take the Business Income Deduction (BID) deduction.The law was backed by the Ohio Society of CPAs, and was viewed as a fix to a part of the biennial budget that was thought to be unfair in its treatment of two specific professions.

As we wrote about when the bill first passed the General Assembly of the House in October, the law, in part, allows lawyers and lobbyists to take the same deductions as other types of pass-through entities. The law also contains two other provisions of note:

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Topics: Ohio business owners, income tax, business income deduction, ohio

Do You Have Unclaimed Funds Just Waiting for You to Collect?

Posted by Zinner & Co. on Oct 17, 2019 5:21:00 AM

Money doesn’t grow on trees! If you have monies owed to you, you should try to collect. At present, there are over $2.6B in unclaimed funds that Ohio is trying to get back in the hands of its rightful owners.

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Topics: personal finance, ohio

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