Bill > HB404

This bill amends Ohio's sales tax law to authorize a sales tax credit for trade-ins of portable electronics and home appliances. Specifically, the bill modifies the definition of "price" in the state's tax code to allow a reduction in the sales tax calculation when a consumer trades in a portable electronic device or home appliance for a new or used similar item. For portable electronics, the trade-in credit must be separately stated on the invoice or bill of sale. For home appliances, which are defined as tangible personal property used for domestic chores (such as refrigerators, stoves, washing machines, and vacuum cleaners), the trade-in credit must also be separately stated on the transaction document. The amendment aims to provide consumers with a tax benefit when upgrading their electronic devices or home appliances by allowing the trade-in value to be subtracted from the sales price before calculating sales tax. The changes will take effect on the first day of the month following the bill's effective date.

Budget and Finance

https://www.legislature.ohio.gov/legislation/136/hb404