COLUMBUS—The Ohio Senate today passed Senate Bill 263, sponsored by Senator Bill Beagle (R-Tipp City), which would require the Ohio Department of Taxation to notify Ohio businesses when they overpay their taxes and provide automatic refunds in the form of credits toward future taxes.
“Most businesses don’t know they’ve overpaid their taxes,” Beagle said. “Senate Bill 263 will require the tax commissioner to notify taxpayers of overpayments and will create the most taxpayer friendly refund law in the Midwest.”

Senator Beagle jointly sponsored the legislation with State Senator Bob Peterson (R–Sabina).

Under current law, overpayments may be refunded, but only at the request of the business and only during the first three or four years, within the statute of limitations. The newly introduced legislation would ensure that taxpayers are notified no later than 60 days before the end of that three- or four-year period.
Last year, Ohio Inspector General Randall Meyer issued an investigation report that found the Ohio Department of Taxation failed to refund more than $30 million in state taxes overpaid by businesses and often ignored requests for refunds. The Kasich Administration has changed this policy and Senate Bill 263 ensures future administrations will be required to do the same.

The legislation will now move to the Ohio House of Representatives for further consideration.

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