News
Kasich Signs Bill to Fix Small Business Tax
By: Associated Press
Posted on:
COLUMBUS, Ohio (AP) — Ohio Gov. John Kasich has signed a bill that seeks to avert an unintended tax increase on some small businesses that was contained in a state budget provision.
Supporters say the legislation will ensure that no taxpayer will pay a higher marginal tax rate on business income for the 2015 taxable year than he or she otherwise would have paid if the most recent two-year budget had not been enacted.
The bill also seeks to restore some money that schools lost in a tax change vetoed from the budget that Kasich signed in June. Affected school districts could see an estimated $44 million.
The governor’s office said Sunday that Kasich also signed a bill that sets Nov. 10 as armed services, peace officer and first responder day.