Highlights: Simplifying Muni Tax Collection & Lowering Income Tax
This week Governor Kasich laid out his final state operating budget. Roger R. Geiger, Vice President and Executive Director of the National Federation of Independent Business/Ohio, the state’s leading small business association, had several comments regarding items positively impacting Ohio entrepreneurs included in the biennial operating budget for Ohio:
“We welcome and support the Governor’s proposal to centralize and simplify the municipal income tax system for businesses. It’s a huge issue for many of our member companies who operate in numerous taxing jurisdictions around the state and have to sort out all of the different city rules and regulations when it comes to paying tax on business income. We encourage the members of the General Assembly to give this municipal tax reform their full support,” said Roger R. Geiger, Vice President and Executive Director of NFIB/Ohio.
“Our members also applaud the efforts of the Governor to continue to ease the burden of the state income tax by again cutting rates and reducing the number of tax brackets. Cutting taxes gives business owners additional resources to invest and grow their business,” he continued.
“These proposed income tax changes, along with a recently adopted business income deduction, and a lower rate on business, will continue to build upon the economic momentum that will benefit Ohio entrepreneurs and all Ohioans. We look forward to working with the Ohio Legislature in the coming months on fine tuning a pro-economic growth budget,” he concluded.
To find out details of everything proposed click on the photo below: