Form 14950 for Akron Ohio 2024-2025

Form 14950 for Akron Ohio: What You Should Know

Ohio Senate Bill 172 changed the withholding rates for 2016. Income Tax and Municipal Income Taxes — City of Akron This is a new City ordinance. The old ordinance was adopted July 13, 2016.  For more information visit the City website. Please call 311 if you notice the following changes: If the first five (5) or more tax month for JEDI, or the first seven (7) consecutive calendar months for CP06, or the first quarter of a new year for all other City income taxes is more than 600, please inform the Clerk of Court or Tax Examiners at. Please also inform the  City of Akron at if you notice that tax periods are being extended or changed (excessive or incorrect withholding). For additional information, please see  City of Akron Tax Bulletin, No. 2016-17. July 8, 2016, Section B.01.06, Notice of Income Tax. Pension Changes There have been changes to Ohio Pension Law in Ohio in order to reflect certain changes to the Pension Benefit Guaranty Corp. law in Ohio. The law changes are effective for July 1, 2015, or later.  On November 14, 2014, the Ohio PUC (Ohio Department of Commerce and Community Affairs) updated the definition of “employee” to include an “employee of the PUC.” Specifically the definition of “employee” became “any person working in a position regulated by the PUC (or any person working for a contractor/billing agency for the PUC).” This means that an employee of the PUC is not an employee of the state but an employee of a private entity with contracts with the PUC that are covered by the Ohio Pension Code. See  Department of Commerce and Community Affairs, Public Employees Salary Standards, Appendix A1. On November 22, 2014, the Ohio Supreme Court upheld this ruling that employees are covered by the Ohio Pension Code, but do not include employees of the PUC in the definition of “employee”. This means pensions for employees and employees of private entities are now governed by the Ohio Pension Code. This is why we have the new Ohio Retirement System (ORS) in our pension plan.

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