Ohio Lawmakers Weighing Major Reforms of Municipal Tax System

Carvlin, Elizabeth
June 2003
Bond Buyer;6/10/2003, Vol. 344 Issue 31653, p44
Trade Publication
This article reports on the plan of the Ohio House and Senate to conduct a meeting in the week of June 9, 2003 to discuss the biennial budget. The state's municipal tax system is expected to change as governor Bob Taft administration calls for a broader sales-tax system in light of continued deterioration in revenues. Taft wants a broadening of the sales tax to include more services, along with a reduction in corporate franchise tax rates and personal income tax rates. He wants to decrease the corporate franchise tax rate but close tax-avoidance schemes while increasing the maximum amount of net worth tax that large corporations can pay.


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