Ohio Governor John Kasich recently outlined the tax changes he will include in his 2016-2017 biennial state budget. The governor’s proposal is a mixture of cuts, increases and elimination of taxes which he says will result in a net $500 million tax cut for Ohioans. The taxes included in his package are: sales tax, commercial activity tax, oil and gas severance tax, individual income tax and tobacco tax.
No language has been introduced in bill form so the details of these proposals remain unclear. Hearings on the governor’s budget began February 3 in the Ohio House and will continue through mid-April. More details about the tax proposal will come out during these hearings as Tax Commissioner Joe Testa and other cabinet officials testify. The administration will also release more detailed information in the next few weeks.
To learn more about the tax proposals, read this Vorys State and Local Tax Alert.