Report of the Committee to Study State and Local Taxes - Ohio ...

More documents

Recommendations

Info

Other Taxes 9% Motor Vehicle License 3% Motor Fuel 7% Sales & Use 33% Public Utility Excise 2% State Profile: Taxes Levied Source: FY 2002. From records of the Ohio Department of Taxation, and Ohio Budget & Management, Central Accounting System reports. 13 Corporation Franchise 4% Income 42% State Profile: Taxes Income $8,157.1 m Sales & Use 6,343.5 m Other 1,804.6 m Motor Fuels 1,383.3 m Corporate Franchise 774.4 m Motor Vehicle License 528.5 m Public Utility Excise 300.0 m Total $19,291.4 m • 75% of state tax revenues come from two taxes: income and sales and use • 10% of state taxes come from motor vehicle related levies and are dedicated to highway purposes • Remaining 15% from an array of levies including insurance, corporation franchise, cigarette and alcohol excises, public utility excise, and estate
Dealers in Intangibles Motor Vehicle License Kilowatt-Hour Excise Public Utility Excise Corporate Franchise Sales and Use State Profile: “Dedicated” State Tax Revenues Local Share 13.3% State Profile: Tax Sharing MCF Estate Motor Fuel Income 0% 20% 40% 60% 80% 100% Note: The percentages for motor vehicle license and motor fuel are based on fiscal year 2002 revenue distributions. Source: Records of the Ohio Department of Taxation and Ohio Budget & Management, Central Accounting System reports. Source: FY 2002. Ohio Budget & Management, Central Accounting System report. 14 State Share 86.7% (100.0%) (80.0%) (62.5%) (59.9%) (40.0%) (28.1%) (10.5%) (4.8%) (4.8%) (4.8%) State Share Local Share State $16,011.2 m Local 2,466.3 m Total Shares $18,477.5 m
Page 1: REPORT OF THE COMMITTEE TO STUDY ST
Page 6 and 7: I. Introduction This document const
Page 8 and 9: August 27, 2002 Recommendations an
Page 10 and 11: November 26, 2002 Testimony on beh
Page 12 and 13: III. Basic Overview of Ohio’s Tax
Page 14 and 15: Township 2% County 8% Municipal 13%
Page 16 and 17: State/Local Profile: “Business”
Page 20 and 21: State Aid 42% School District Profi
Page 22 and 23: County Profile: Taxes Levied • Pr
Page 24 and 25: Profile: Review • Income and sale
Page 26 and 27: Overview: State Income Tax • Begi
Page 28 and 29: This slide is intentionally blank.
Page 30 and 31: Overview: Municipal Income Tax •
Page 32 and 33: Overview: Property Taxes By Propert
Page 34 and 35: Real Property Tax-Brief History •
Page 36 and 37: Tangible Property Tax-Brief History
Page 38 and 39: Public Utility and Business Tangibl
Page 40 and 41: Sales and Use Tax: Overview • Ena
Page 42 and 43: Sales & Use Tax: What is the Use Ta
Page 44 and 45: Sales and Use Tax - County and Tran
Page 46 and 47: Corporation Franchise Tax: Overview
Page 48 and 49: Corporation Franchise Tax: Definiti
Page 50 and 51: Details: Corporate Tax Historical S
Page 52 and 53: Motor Vehicle Fuel Tax: Overview Fi
Page 54 and 55: IV. Comparison of Ohio’s Tax Syst
Page 56 and 57: Pennsylvania and Illinois to Ohio,
Page 58 and 59: 4.0% 3.5% 3.0% 2.5% 2.0% 1.5% 1.0%
Page 60 and 61: Property Taxes (Real Property and T
Page 62 and 63: Agriculture property is fully taxab
Page 64 and 65: $2,000 $1,800 $1,600 $1,400 $1,200
Page 66 and 67: $400 $350 $300 $250 $200 $150 $100
Page 68 and 69:
Conclusion At least three primary a
Page 70 and 71:
As services, which tend to be tax e
Page 72 and 73:
VI. Economic Development Considerat
Page 74 and 75:
since 1998 - two years before the e
Page 76 and 77:
customers, suppliers, infrastructur
Page 78 and 79:
makes payments to out-of-state rela
Page 80 and 81:
Maximum Corporate Income Tax Rates
Page 82 and 83:
often referred to as “no-where”
Page 84 and 85:
Stability: The personal income tax
Page 86 and 87:
PERSONAL INCOME TAX OPTIONS To over
Page 88 and 89:
While these alternatives would not
Page 90 and 91:
SALES & USE TAX OBSTACLES Simplicit
Page 92 and 93:
State State Sales And Use Tax State
Page 94 and 95:
4. Do Not Increase the County Permi
Page 96 and 97:
. A simple tax base consisting sole
Page 98 and 99:
Closely tied to stability is the im
Page 100 and 101:
ownership of the inventory to a non
Page 102 and 103:
entities, they do have some taxatio
Page 104 and 105:
OPTIONS RELATED TO TAX ADMINISTRATI
Page 106:
APPENDIX A Member Letters 101
Page 110 and 111:
property tax will cost local govern
Page 117 and 118:
APPENDIX C A Comparison of the Busi
Page 119 and 120:
Example #1: Facts: An Ohio company
Page 121 and 122:
APPENDIX D Combined and Consolidate
Page 123 and 124:
Example: Under this method of filin
show all

Report of the Committee to Study State and Local Taxes - Ohio ...

Create successful ePaper yourself

Delete template?

Save as template?