This week Ohio Department of Taxation Commissioner Joe Testa, House Finance Committee Chairman Ryan Smith and House Ways and Means Committee Chairman Tim Schaffer met with the OMA Tax Committee to discuss HB 49, the state operating budget, and more specifically, the tax proposals in the budget.
The governor’s budget proposal is focused on driving down the income tax. The reduction in income tax would be paid for through a variety of other tax increases including the sales tax, cigarette taxes, beer and wine taxes, and a new severance tax.
The budget also proposes centralized collection for business municipal taxes, something the OMA has long advocated.
The budget wrangling must conclude in time for it to be signed into law no later than June 30.
For a front row seat regarding the state’s tax developments, join the OMA Tax Committee at My OMA, select My Communities. 2/16/2017