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.

The Holden Arboretum

Akron Children's Hospital


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

Brunswick will turn tornado sirens back on after bad weather
Put the sirens back after the storms, in the mean time just sit and wait for another tornado . That's Brunswick for you lived here 44 years and it has always be...

Oberlin council may rescind its gun ban, but is considering alternatives to keep it in effect
Seems that the only scared, paranoid people are the anti-gun people, really.

Massive pipeline planned to pump Ohio shale products to Texas
This needs stopped. Ohioans pay the price, putting up with pollution, leaks, explosions, and the top one percent profit from exporting fracked product to China.

National Weather Service confirms three tornado touchdowns yesterday
I was driving back from a party and was caught in the middle of a large thunderstorm. The hail and lightning were a whole light closer than usual, is something ...

Another Indians season opens with Chief Wahoo under scrutiny
The picture you have for Robert rocha is not him. He has long hair. No idea who that guy is in that picture

Portman predicts McDonald's confirmation, but says it won't be easy
I sent the following note to Senator Blumenthal after reading commentary from yesterday's hearing: Senator, You certainly have the right to ask Mr. McDonald que...

Seven minutes changed everything, but what changed Ashford Thompson?
He shot the guy four times in the head. I have never been that drunk or mad, and I have been through it. Shoot a guy once is bad, maybe a mistake, shoot a guy f...

First cricket farm in the U.S. opens in Youngstown
I am interested in cricket flour to replace soy flour in a low carbohydrate diet. As soon as you have cricket flour available for the average person, please le...

New process starts digesting sludge in Wooster
Awesome! When do our sewage rates decrease accordingly?

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