TITLE

Ohio to Appeal Court's Decision on Investment Tax Credit

AUTHOR(S)
Carvlin, Elizabeth
PUB. DATE
September 2004
SOURCE
Bond Buyer;9/10/2004, Vol. 349 Issue 31966, p29
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
This article reports that the state of Ohio, which has experienced a decline in overall revenue in recent years due in part to heavy manufacturing job losses, plans to ask the Sixth U.S. Circuit Court of Appeals next week to reconsider a decision that a state investment tax credit violated the commerce clause of the. Constitution. The court agreed with the argument that the investment tax Credit, which is similar to credits used by states across the country, discriminates against interstate commerce by "coercing businesses already subject to the Ohio franchise tax to expand locally rather than out-of-state," according to the court ruling.
ACCESSION #
14387407

 

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