News
News Home
Quick Bites
Exploradio
News Archive
News Channel
Special Features
NPR
nowplaying
On AirNewsClassical
Loading...
  
School Closings
WKSU Support
Funding for WKSU is made possible in part through support from the following businesses and organizations.

Meaden & Moore

Akron Children's Hospital

Area Agency on Aging 10B, Inc.


For more information on how your company or organization can support WKSU, download the WKSU Media Kit.

(WKSU Media Kit PDF icon )


Donate Your Vehicle to WKSU

Programs Schedule Make A Pledge Member BenefitsFAQ/HelpContact Us
Economy and Business


Ohio's big shift: Income vs. sales taxes
Gov. Kasich has provided just a partial breakout on the changes he has in mind.
by WKSU's STATEHOUSE CORRESPONDENT BILL COHEN


Reporter
Bill Cohen
 
Download (WKSU Only)
In The Region:

Under a major tax-overhaul Gov. John Kasich has proposed, Ohioans would save money with a phased-in 20 percent cut in the state income tax. But, depending on what they buy, they’d face a 5 percent sales tax on services that were never taxed before.

If you’ve been trying to figure out whether you’d be a net financial winner or loser, you’re not alone. Statehouse Correspondent Bill Cohen has been wondering the same thing.

COHEN: Kasich is providing only partial estimates.

Other options:
Windows Media / MP3 Download (1:12)


Part of the equation, the savings part under the income tax cut, is fairly simple to solve. The Ohio Department of Taxation has charts showing how much money the average family of four, with two wage-earners, would save with the income tax cut.

Those with yearly adjusted gross income of $40,000 would save $133. Those with an income of $105,000 would save $662. And those with an income of $250,000 would save nearly $2,400.

But how much of those savings would be eaten up by people paying sales tax for the first time on many services?

That question is tougher to answer. That requires assumptions about how many movie tickets, sports tickets, cable TV services, haircuts, parking lot fees and other services a typical family buys in a year. That's because those are among the services that would be taxed for the first time.

The Ohio tax department is not providing those estimates, but a liberal think-tank opposed to this massive tax shift, is working on some calculations. 

Add Your Comment
Name:

Location:

E-mail: (not published, only used to contact you about your comment)


Comments:




 
Page Options

Print this page

E-Mail this page / Send mp3

Share on Facebook




Stories with Recent Comments

Ohio's new drilling rules rely on known earthquake faults
requiring drillers to place seismic monitors when they drill within 3 miles of known fault lines. This comment really upsets me!! What good does an instrument t...

Kasich's gubernatorial ad focuses on his blue-collar roots
John Kasich is the biggest con-man in America. He will say one thing and then do the opposite. He is terribly successful at fooling the public and he is worki...

Cab drivers who refuse to drive Gay Games taxis will be replaced
the irony is that most americans distrust or hate muslims much more than they hate gays!! silly ignorant bigots-GO HOME!!!

New transportation companies come to Cleveland
Ride-sharing companies are breaking laws and regulations every day. From regulatory fee evasion to use of smartphone while driving (and even two smartphones(!) ...

Cleveland anti-poverty agency executive resigns amid financial probe
That committee won't be too independent. He plans to stay on until after the new appointee is chosen.

How can you wipe a criminal record clean?
Great article! NO CLINIC in May 2014, however, because it's graduation month for students For the next dates of the FREE Legal Clinic to help with Expungment,...

Drilling remains suspended while ODNR investigates NE Ohio earthquakes
Flaring and lights, so has all been halted? Also, smell of HS2 and sounds of an auger/drilling/water rushing underground. So, has all been halted? In light of t...

Will the Ohio River carry fracking wastewater?
Texas $ vs. WV citizens . Who will our governor listen to?

McKinley museum launches campaign to buy 'pawned' heirloom
Was the tiara sold or pawned? What is the name of the person who brought the tiara to the Gold

Copyright © 2014 WKSU Public Radio, All Rights Reserved.

 
In Partnership With:

NPR PRI Kent State University

listen in windows media format listen in realplayer format Car Talk Hosts: Tom & Ray Magliozzi Fresh Air Host: Terry Gross A Service of Kent State University 89.7 WKSU | NPR.Classical.Other smart stuff. NPR Senior Correspondent: Noah Adams Living on Earth Host: Steve Curwood 89.7 WKSU | NPR.Classical.Other smart stuff. A Service of Kent State University