Tax reform
Making a commitment to eliminate a burdensome tax system, Ohio in 2005 implemented full-scale, sweeping tax reform.
Ohio's new business taxation model will mean a reduction in tax burden of up to 63 percent by 2010, the first year reform is fully implemented.
Consider the following example:
Ohio's new taxation system mean businesses can:
- Reduce operating costs – No tax on inventory or corporate income
- Enhance productivity – No tax on investments in machinery and equipment
- Attract talent – Shrink labor costs through a 21 percent reduction in personal income tax
- Enjoy a level playing field – All companies taxed the same low rate
- Boost return on investment – No tax on product sold to customers outside Ohio
- Reward entrepreneurship – First $1 million in gross receipts are tax-free
For details on Ohio's new tax reform download the following documents:
- How Ohio's New Tax Reform can Lower Your Operating Costs
- A Business Leader's Guide to Ohio Tax Reform
- Ohio's Tax Reform Compared to Indiana, Michigan, and Pennsylvania
- Tax Analysis Case Study for Manufacturing
- Impact of Ohio's Tax Reform on Capital Investment
For additional information, please visit the following sites:
