As part of the Ohio budget bill passed in July 2011, Ohio is offering a Use Tax Amnesty Program that will be effective from October 1, 2011 through May 1, 2013. The program allows eligible taxpayers to voluntarily file a use tax return and to pay the tax due during the effective period with all penalties and interest being waived.

The Ohio Department of Development and JobsOhio have announced a new InvestOhio program that will provide a tax credit to Ohioans who invest in Ohio small businesses. The tax credit is equal to 10% of the amount invested, with a maximum of $1 million per taxpayer for a $10 million investment.

The Internal Revenue Service announced an increase in the optional standard mileage rates for the final six months of 2011. Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes.