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

More documents

Recommendations

Info

Details: Corporate Tax Historical Share of GRF 18% 16% 14% 12% 10% 8% 6% 4% 2% 0% 9.4% 16.3% 15.5% 13.2% 45 10.0% 8.1% 8.9% 1967 1972 1977 1982 1987 1992 1997 2002 Fiscal Year For 1972 - 1987, tax revenues transferred to the Local Government Fund are assumed not to be General Revenue Fund taxes. Source: Ohio Budget & Management, Central Accounting System reports. Millions of Dollars Details: Corporation Franchise Tax Revenues Trendline $1,400 $1,200 $1,000 $800 $600 $400 $200 $0 1974 1976 1974 dollars = $294.9 m actual dollars = $1,029.9 m 1974 tax dollars = $330.9 m 1978 1980 1982 1984 1986 Source: Income tax returns filed with the Ohio Department of Taxation. Tax Year 4.6% 1974 dollars actual dollars 1988 1990 1992 1994 1996 1998 2000
Motor Vehicle Fuel Tax: Overview • State tax that is shared with local governments • Tax on consumption • Tax earmarked for roads with constitutional restrictions • Additional fuel use tax levied on trucking industry Motor Vehicle Fuel Tax: Overview • How Collected: Monthly tax returns paid by the last day of the month for the preceding month’s liability • Who Administers: ODT 46
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 18 and 19: Other Taxes 9% Motor Vehicle Licens
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 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?