tax
House Republicans propose free loans, tax breaks for new gas pipelines
Two state House Republicans proposed legislation to give some natural gas pipeline developers state-funded tax breaks and interest-free loans, while allowing them to add a surcharge to ratepayers’ monthly bills. Reps. Jay Edwards, of Nelsonville, and Jon Cross, of Kenton, proposed House Bill 685 to aid communities that they say lose out on economic gains […]
Senate Republicans seek to eliminate Ohio’s income tax over 10 years
Eight Senate Republicans introduced legislation Tuesday seeking to zero out Ohio’s income tax by the year 2032. If passed, Ohio would become the 10th state nationally without an income tax, which was first levied in 1972. In fiscal year 2020, personal income taxes were the state’s No. 2 tax revenue source, driving in $8.3 billion, […]
Recreational marijuana could mean $375 million per year in Ohio taxes, OSU researchers say
Recreational marijuana in Ohio could mean up to $375 million in annual tax revenue for the state, according to new research from Ohio State University. The study, released just in time for America’s annual, informal marijuana celebration day Wednesday, uses tax estimates from an initiated statute effort to legalize marijuana in the state, possibly via […]
Wealthy state lawmakers to gain from income tax cuts in budget
Some of the wealthiest state lawmakers stand to save thousands of dollars annually on their taxes thanks to changes they enacted in the state budget. Lawmakers lowered tax rates for all income earners and raised the minimum threshold at which Ohioans pay taxes on their income. They also eliminated the top bracket (previously $221,300 and […]
Scrap tires and alcoholic bingo: The Ohio budget’s most obscure items
The new state budget allocates billions of dollars to necessary public services, but you have to flip to page 1,326 to find the part about buying to-go cocktails. Tucked between groundbreaking investments in broadband internet and children’s services, this provision lets Ohioans purchase drinks for “off-premises consumption,” so long as the drink is not any […]
State budget blocks cities from taxing grocery bags
A budget proposal passed by both chambers of the legislature on Monday would prohibit cities from applying taxes to single-use, plastic grocery bags. The budget, passed Monday night by both the House and Senate, makes permanent a temporary ban on cities from applying the taxes, which are designed to cut down on the 14.5 million […]
Senate budget blocks cities from taxing plastic bags
The Ohio Senate slid into its state budget proposal a provision to make permanent a temporary ban that blocks cities from taxing the use of plastic grocery bags. Ohio Republicans since at least 2018 have tried to short-circuit cities from restricting the use of disposable, plastic grocery bags. Last year, Gov. Mike DeWine signed into […]
Ohio House eyes tax cut for manufacturing industry
State House lawmakers are considering a tax cut aimed at the manufacturing industry. Like most states, Ohio does not impose a sales tax on industrial machinery. House Bill 440, however, would scrap a tax on the sale of labor from staffing agencies to manufacturers, so long as the agencies provide workers who operate industrial machinery […]
Senate GOP seeks to anchor down historic low income tax rates
Senate Republicans are pushing a constitutional change to make it significantly harder to raise income tax rates, which are at their lowest points since Ronald Reagan was president. The Senate Ways and Means Committee held its first hearing on Senate Joint Resolution 3 on Tuesday, which would require a supermajority vote in both the state […]