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Whitaker-Myers Wealth Managers is an SEC-registered investment adviser firm. The information presented is for educational purposes only and intended for a broad audience. The information does not intend to make an offer or solicitation to sell or purchase any specific securities, investments, or investment strategies. Investments involve risk and are not guaranteed. Whitaker-Myers Wealth Managers reasonably believes that this marketing does not include any false or misleading statements or omissions of facts regarding services, investment, or client experience. Whitaker-Myers Wealth Managers has a reasonable belief that the content will not cause an untrue or misleading implication regarding the adviser’s services, investments, or client experiences. Please refer to the firm’s ADV Part 2A for material risks disclosures.

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Past performance of specific investment advice should not be relied upon without knowledge of certain circumstances of market events, the nature and timing of the investments, and relevant constraints of the investment. Whitaker-Myers Wealth Managers has presented information in a fair and balanced manner.

​

Copyright (c) 2023 Clearnomics, Inc. and Whitaker-Myers Wealth Managers, LTD. All rights reserved. The information contained herein has been obtained from sources believed to be reliable, but is not necessarily complete and its accuracy cannot be guaranteed. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness, or correctness of the information and opinions contained herein. The views and the other information provided are subject to change without notice. All reports posted on or via www.clearnomics.com or any affiliated websites, applications, or services are issued without regard to the specific investment objectives, financial situation, or particular needs of any specific recipient and are not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Past performance is not necessarily a guide to future results. Company fundamentals and earnings may be mentioned occasionally, but should not be construed as a recommendation to buy, sell, or hold the company's stock. Predictions, forecasts, and estimates for any and all markets should not be construed as recommendations to buy, sell, or hold any security--including mutual funds, futures contracts, and exchange traded funds, or any similar instruments. The text, images, and other materials contained or displayed in this report are proprietary to Clearnomics, Inc. and constitute valuable intellectual property. All unauthorized reproduction or other use of material from Clearnomics, Inc. shall be deemed willful infringement(s) of this copyright and other proprietary and intellectual property rights, including but not limited to, rights of privacy. Clearnomics, Inc. expressly reserves all rights in connection with its intellectual property, including without limitation the right to block the transfer of its products and services and/or to track usage thereof, through electronic tracking technology, and all other lawful means, now known or hereafter devised. Clearnomics, Inc. reserves the right, without further notice, to pursue to the fullest extent allowed by the law any and all criminal and civil remedies for the violation of its rights.

Ohio Income Tax is Dropping: Here’s What You Need to Know for 2025, 2026, and Beyond

  • Writer: Andrew Young
    Andrew Young
  • 3 days ago
  • 2 min read

The Ohio legislature passed its budget bill for the next 2 years that will bring Ohio’s income tax to the 2nd lowest state income tax in the country (behind North Dakota) among the states that have an income tax. 

 

What’s Changing in 2025 and 2026

Effective in 2025, the tax rate for income earned over $100,000 will drop from 3.5% to 3.125%.  The progressive tax system Ohio has had for many years will have the lower two brackets remain unchanged—0% for income under $26,050 and 2.75% for income between $26,050 and $100,000.

 

Starting in 2026 and beyond, Ohio will implement a flat tax rate system of 2.75% for all income above $26,050. Twelve other states currently have a flat tax system, with Iowa and Mississippi also moving to one in 2026. 

 

Below are the brackets for the 2024-2026 period. 

 

Don’t Forget About Local Taxes

Ohio city and school district income taxes are separate and vary by location.  You can check your local rate using the Ohio Department of Taxation's “The Finder” website.

 

You can see the history of Ohio rates from 2005-2024 here:  https://tax.ohio.gov/individual/resources/annual-tax-rates

 

How Ohio Compares to Neighboring States

Interestingly, Ohio will have the lowest tax rate compared to neighboring states, where the top state tax rates are:

  • Indiana – Flat Tax of 3.05%

  • Kentucky – Flat Tax of 4.00%

  • West Virginia – Progressive Tax with top rate of 5.12%

  • Pennsylvania – Flat Tax of 3.07%

  • Michigan – Flat Tax of 4.25%

 

Why These Changes Matter to You

As with federal laws, state laws are also “written in pencil”.   Meaning that these laws will be in effect going forward, but future politicians can always modify them.   That’s why it’s essential to stay up to date on these changes to determine if and how they will impact you. 

 

Take the Guesswork Out of Tax Changes

Ohio’s income tax updates could impact your long-term financial strategy—whether you’re planning for retirement, running a business, or simply looking to maximize your take-home income. At Whitaker-Myers Wealth Managers, you can rely on our team of financial advisors and tax advisors, who are here to help you navigate these changes with clarity and confidence. Schedule a consultation today to see how these new laws could affect your financial plan and what proactive steps you can take.

Whitaker-Myers Wealth Managers is an SEC-registered investment adviser firm. The information presented is for educational purposes only and intended for a broad audience. The information does not intend to make an offer or solicitation to sell or purchase any specific securities, investments, or investment strategies. Investments involve risk and are not guaranteed. Whitaker-Myers Wealth Managers reasonably believes that this marketing does not include any false or misleading statements or omissions of facts regarding services, investment, or client experience. Whitaker-Myers Wealth Managers has a reasonable belief that the content will not cause an untrue or misleading implication regarding the adviser’s services, investments, or client experiences. Please refer to the firm’s ADV Part 2A for material risks disclosures.

​

Past performance of specific investment advice should not be relied upon without knowledge of certain circumstances of market events, the nature and timing of the investments, and relevant constraints of the investment. Whitaker-Myers Wealth Managers has presented information in a fair and balanced manner.

​

Copyright (c) 2023 Clearnomics, Inc. and Whitaker-Myers Wealth Managers, LTD. All rights reserved. The information contained herein has been obtained from sources believed to be reliable, but is not necessarily complete and its accuracy cannot be guaranteed. No representation or warranty, express or implied, is made as to the fairness, accuracy, completeness, or correctness of the information and opinions contained herein. The views and the other information provided are subject to change without notice. All reports posted on or via www.clearnomics.com or any affiliated websites, applications, or services are issued without regard to the specific investment objectives, financial situation, or particular needs of any specific recipient and are not to be construed as a solicitation or an offer to buy or sell any securities or related financial instruments. Past performance is not necessarily a guide to future results. Company fundamentals and earnings may be mentioned occasionally, but should not be construed as a recommendation to buy, sell, or hold the company's stock. Predictions, forecasts, and estimates for any and all markets should not be construed as recommendations to buy, sell, or hold any security--including mutual funds, futures contracts, and exchange traded funds, or any similar instruments. The text, images, and other materials contained or displayed in this report are proprietary to Clearnomics, Inc. and constitute valuable intellectual property. All unauthorized reproduction or other use of material from Clearnomics, Inc. shall be deemed willful infringement(s) of this copyright and other proprietary and intellectual property rights, including but not limited to, rights of privacy. Clearnomics, Inc. expressly reserves all rights in connection with its intellectual property, including without limitation the right to block the transfer of its products and services and/or to track usage thereof, through electronic tracking technology, and all other lawful means, now known or hereafter devised. Clearnomics, Inc. reserves the right, without further notice, to pursue to the fullest extent allowed by the law any and all criminal and civil remedies for the violation of its rights.

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