1/3/05 ODT Opts Not to Release December LLGSF Certification
In December of each year, the Ohio Department of Taxation has typically released its LLGSF “certification” for the following year. This certification is an update to the July certification that is released as required by statute. However, the ODT opted NOT to release a certification this past December. In the past, the December certification has caused more confusion because it cannot anticipate what changes the new state budget may impose on the LLGSF in the second half of 2005. The certification that the ODT released in July 2004 is still accurate IF the legislature makes no changes to the LLGSF in the first half of 2005, and IF the legislature allows the LLGSF to return to 5.7% of the personal income tax, as established in permanent law.
Although it is believed that the legislature will make no further changes to the LLGSF in the first half of 2005, it is much too early to tell what may happen to the LLGSF in the second half of 2005.
