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Sales tax increase starts Sunday
Other headlines: RPM International pays $65.1 million in DOJ settlement; Proposed PA 'cracker' plant reaches new milestone

Reporter / Host
Jeff St. Clair
  • Sales tax increase starts Sunday
  • RPM International pays $65.1 million in DOJ settlement
  • Proposed PA 'cracker' plant reaches new milestone
  • Sales tax increase starts Sunday
    Shoppers across Ohio will see a one-quarter percent sales tax increase beginning Sunday.

    The rate will rise from 5.5 percent to 5.75 percent tax on vehicles, electronics, clothing and other retail goods.

    The increase was part of a larger tax package that will reduce small business and individual taxes by an estimated $2.7 billion over the next three years. That includes a 10-percent cut to the personal income tax that will be phased in starting Sunday.

    The Ohio Department of Taxation estimates more than a third of an average family's spending is subject to the sales tax.

    RPM International pays $65.1 million in DOJ settlement
    The Northeast Ohio-based maker of Rust-Oleum, among other sealants and building products, has reached a settlement with the Department of Justice for allegedly overcharging in some government contracts.

    Medina-base RPM International this month agreed to pay more than $65.1 million after a whistle-blower alerted federal officials that the company’s Tremco division overcharged for roofing materials and services between 2002 and 2008.

    CEO Frank Sullivan tells Crain’s Cleveland Business that the company made a mistake and has taken steps to prevent future errors.

    RPM posted a $42 million third-quarter loss.

    Proposed PA 'cracker' plant reaches new milestone
    A $3.2 Billion dollar petroleum processing plant proposed for Western Pennsylvania has taken another step closer to being built.

    Shell Chemical announced this week it’s accepting bids from gas suppliers to feed it’s cracker plant planned for Beaver County, PA, about 10 miles from the Ohio border.

    The plant will turn ethane rich ‘wet’ gas from fracking operations in Ohio and Pennsylvania into ethylene, a primary ingredient of plastics.

    The Youngstown Business Journal says the bidding by companies in the Utica and Marcellus shale play is an important milestone in Shell’s final decision to build the massive facility. 

    Listener Comments:

    Typical conservative approach, give gifts to business, and make the poor pay for them! Sales taxes are always regressive. Oh well, Indiana is only 19 miles away!

    Posted by: Kent McMillen (Van Wert, OH) on August 29, 2013 12:08PM
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