Report of the Committee to Study State and Local Taxes - Ohio ...
Report of the Committee to Study State and Local Taxes - Ohio ...
Report of the Committee to Study State and Local Taxes - Ohio ...
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Millions <strong>of</strong> Dollars<br />
Overview: <strong>State</strong> Income Tax<br />
Revenue Trend Line<br />
$9,000<br />
$8,000<br />
$7,000<br />
$6,000<br />
$5,000<br />
$4,000<br />
$3,000<br />
$2,000<br />
$1,000<br />
$0<br />
1974<br />
1976<br />
1974 tax collections<br />
= $450.0 m<br />
1978<br />
1980<br />
1982<br />
1984<br />
1986<br />
Source: Income tax returns filed with <strong>the</strong> <strong>Ohio</strong> Department <strong>of</strong> Taxation.<br />
24<br />
2000 tax collections:<br />
1974 dollars = $2,200.5 m<br />
actual dollars = $7,686.0 m<br />
Tax Year<br />
1974 dollars<br />
actual dollars<br />
1988<br />
1990<br />
1992<br />
1994<br />
1996<br />
1998<br />
2000<br />
Overview: Municipal Income<br />
Tax<br />
• Originally enacted without state law<br />
• <strong>State</strong> law enacted in 1957 <strong>to</strong> require voter<br />
approval for taxes above 1% <strong>and</strong> <strong>to</strong> provide<br />
some uniformity; still many variations<br />
• May be levied on residents <strong>and</strong> employees<br />
working in a municipal corporation<br />
• Various practices with respect <strong>to</strong> credits