Ohio issues new withholding tables

The Ohio Department of Taxation has issued new employer withholding tables that are to be used for payrolls that end on or after August 1, 2015. The Department notes that the new tables take into consideration the recent income tax rate reductions that went into effect on June 30, 2015. The tables reflect a 3.1% reduction in the withholding rates previously in effect for 2014 and are to be used for the remainder of calendar year 2015 and in future years. The new withholding tables are posted on the Employer Withholding Tax webpage, http://www.tax.ohio.gov/employer_withholding/employer-withholding-tables-08012015.aspx. The tables include the percentage method for calculating withholding as well as daily, weekly, biweekly, semimonthly and monthly tables. The percentage method and computer formula tables are reproduced in this Report Letter on pages 18–23. All of the tables will be reproduced in a future release beginning at ¶7648. (Release, Ohio Department of Taxation, July 31, 2015.)

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