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

Report of the Committee to Study
State and Local Taxes
Table of Contents
Page
I. Introduction………………………………………………………… 1
II. Elements of a Quality Tax System ……………………………..…. 6
III. Basic Overview of Ohio’s Tax System ……………………………. 7
IV. Comparison of Ohio’s Tax System to Other States’ Tax Systems … 49
V. “New Economy” Considerations ………………………………….. 64
VI. Economic Development Considerations …………………………... 67
VII. Identification of Obstacles and Options for Ohio Tax Reform ……. 72
Appendix A – Member Letters …………………………………………… 101
Appendix B – 1972 and 2002 Personal Income
Tax Forms – A Comparison …………………... 106
Appendix C – A Comparison of the Business/Nonbusiness Income
Reporting Method and the Ohio Method …….. 112
Appendix D – Combined and Consolidated Reporting for
Taxing Corporate Income ……………………. 116