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.

Metro RTA

Hospice of the Western Reserve


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

Pluto: Another off-season, another Browns quarterback conundrum
The Browns do need a draftable QB for the future. Johnny Manziel needs to go and that leaves Brian Hoyer and Connor Shaw. Free agency doesn't really have any so...

Exploradio: Improving the lives of paralyzed people
God bless you doctor. I hope to be alive the day that humans, like me, can use the results of your search...

Nature and nourishment down by the river at the Metroparks' Merwin's Wharf
I love QUICKBITES! I look forward to it every week. One question: is it possible to include a link to the restaurant or store that you profile? Thanks!

Canton's proposed Timken-McKinley school merger is drawing spirited debate
From a sports opinion Varsity would have a lot more talent to choose from So Im sure varsity sports would improve.Also Timkens name would be much more published...

Canton school board will decide whether to merge high schools
I really hope we can save those jobs, usually we try to cut budgets but the demand is still the same. Then we look bad a year or two after the descion is made. ...

FirstEnergy wants PUCO guarantees on nuclear and coal prices
Would just comment that the plant has admitted the following (as reporting in the Akron Beacon Journal): "The utility has said it may have difficulty keeping t...

Mozzarella's easy when you have a way with curd
Hello, Where can I get such a heater that you have? Does it hold temperature that you set? What brand and model is it? Thank you in advance!! :)

Pluto: A healthy LeBron James is the key for the rocky Cavs
It's time to back our Cleveland professional teams through thick and thin. I've seen management, players and coaches come and go and it hasn't changed a thing. ...

Legal marijuana group offers new details about ballot issue
Americans feel as if they should have the right to decide on their own if and when it is or is not a responsible time to have a drink or smoke a joint. The fac...

The PUCO is assessing what happened in Akron's AT&T outage
not the first time for that steam pipe break... happened in the late 70's when the office was being converted to electronic switch ESS.. was a big mess then but...

Copyright © 2015 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