State Rep. Tom Young Champions House Bill 617

State Representative Tom Young (R-Washington Township) has introduced House Bill 617 – legislation that would exempt net capital gains from state and municipal income taxation in Ohio. 

House Bill 617 is designed to encourage investment, support economic growth, and keep Ohio competitive with states that do not have tax capital gains at the state level. By removing capital gains from Ohio adjusted gross income, the bill rewards long term investment and helps retain retirees, entrepreneurs, and small business owners who are choosing where to live and invest. 

This legislation does not raise any tax rates and does not change the state sales tax, property taxes, or the Commercial Activity Tax. It is focused solely on removing capital gains from the taxable income base. Wages and ordinary income remain subject to Ohio’s existing flat income tax structure. 

“Ohio has worked hard to lower income tax rates and create a more competitive business climate,” said Young. “House Bill 617 continues that effort by signaling that Ohio welcomes investment, capital formation, and economic expansion.” 

The bill has been referred to the House Ways and Means Committee. Representative Young looks forward to working with colleagues to advance pro-growth tax policy that benefits families, job creators, and communities across Ohio.