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Sales Taxes Up, Overall Ohio Revenues Are Down – But That Could Flip Next Month
By: Karen Kasler | Statehouse News Bureau
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COLUMBUS, Ohio (Statehouse News Bureau) — Ohio’s sales tax revenues were up for the last month, but income tax collections were way down. The state’s Office of Budget and Management says overall, revenues were nearly 13% off forecasts. Sales taxes were up by nearly 23% – and with car sales going briskly, auto sales taxes were up… Read More
White House Proposes $1.8 Trillion Plan For Children And Families
By: Alana Wise | NPR
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The American Families Plan would expand free public education and make child care more affordable. The White House wants to pay for the measure by raising taxes on the country’s richest.
IRS Postpones Tax Filing Deadline To May 17
By: Brian Naylor | Suzanne Nuyen | NPR
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It will be the second consecutive year the agency has given taxpayers more time to filed their returns because of the coronavirus pandemic.
Study Says Ohio Needs To Reinstate Corporate Income Tax
By: Jo Ingles | Statehouse News Bureau
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COLUMBUS, Ohio (Statehouse News Bureau) — Ohio is one of only six states in the country that doesn’t have an income tax on corporate profits. A liberal leaning think tank that studies public policy says that needs to change. Zach Schiller, Policy Matters Ohio research director, says while the pandemic has hurt many small businesses, big… Read More
Ohio Tax Collections Up, But So Are Medicaid Caseloads
By: Karen Kasler | Statehouse News Bureau
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COLUMBUS, Ohio (Statehouse News Bureau) — After three months of declines, Ohio took in 8 percent more in taxes than the Office of Budget and Management estimated, though much of that is connected to the delay of the tax deadline to July 15. But there was a different kind of growth in the state’s July report that could… Read More
Tax Deadline Extended to July 15 Over Coronavirus Pandemic
By: Merrit Kennedy | NPR
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“All taxpayers and businesses will have this additional time to file and make payments without interest or penalties,” Treasury Secretary Steven Mnuchin said Friday.
Plan to Make it Harder to Hike State Income Tax Could Go to Voters
By: Karen Kasler | Statehouse News Bureau
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Among the possible questions voters might face on the ballot this fall is whether they want to make it harder to raise the state income tax, by requiring approval from a supermajority of state lawmakers. Seven states have passed this idea, which is embraced by half the Republicans in the state Senate – a constitutional… Read More
West Virginia Republicans Move Forward on Tax Overhaul
By: Associated Press
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CHARLESTON, W.Va. (AP) – West Virginia Republicans are moving forward on a sweeping tax overhaul that could slash county government budgets, though it appears likely Democrats may derail the plan. The Senate voted 17-16 Monday to to pass a GOP proposal to cut taxes on manufacturers and personal vehicles while raising sales taxes and taxes… Read More
DeWine, Lawmakers had Smooth First Year, but Disagreed Over Taxes in Budget
By: Karen Kasler | Statehouse News Bureau
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In his first year as governor, Mike DeWine seemed to get along well with state lawmakers – including those who’d had a fractured relationship with his predecessor, John Kasich. But there were some disagreements. (NOTE: The full interview with Gov. Mike DeWine will air on “The State of Ohio” this weekend. Watch it at the link posted here.)… Read More
Appeals Court Rules Trump’s Accountants Must Turn Over Tax Records
By: Brian Naylor | NPR
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Lawyers for President Trump say they plan to appeal to the Supreme Court, potentially setting up an election-year decision about disclosing the president’s finances.
Ohio House Votes to Repeal State Sales Tax on Tampons
By: Associated Press
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COLUMBUS, Ohio (AP) – A proposal repealing Ohio’s sales tax on tampons and other feminine hygiene products has cleared the Ohio House. Republican State Rep. Niraj Antani, of Miamisburg, calls Thursday’s unanimous vote “a victory for all women in Ohio.” Antani and Democratic state Rep. Brigid Kelly, of Cincinnati, co-sponsored legislation repealing the so-called “pink… Read More
New Study Shows Changes In Ohio’s Tax Policy Benefits The Wealthiest Even More Than Before
By: Jo Ingles | Statehouse News Bureau
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Statehouse Republicans have championed recent tax changes, including the elimination of income taxes for those making less than $21,750 a year. But a new report by a liberal leaning think tank shows tax changes recently made by Ohio lawmakers will make the rich richer and will require lower middle class or poor Ohioans to possibly… Read More
Report: WV Governor’s Companies Owe $2M Virginia Tax Debt
By: Associated Press
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ROANOKE, Va. (AP) – Records show West Virginia Gov. Jim Justice’s companies owe almost $2 million in delinquent taxes in Virginia. WDBJ-TV reports Wednesday that companies owned by the Republican governor owe $1.9 million in taxes to several counties in Virginia. Justice lists more than 100 businesses in his most recent financial statement, including coal,… Read More
Ohio Ditches Sales Tax for Glasses and Contact Lenses
By: Associated Press
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COLUMBUS, Ohio (AP) – Corrective eyeglasses and contact lenses purchased in Ohio are no longer subject to state sales taxes. The Dayton Daily News reports the change went into effect Monday. Hearing aids, prescription drugs and other medical devices already were exempt. The Ohio Optometric Association supports the change, saying a sales tax can be… Read More
Senate Budget Keeps Tax Credits While Cutting Income Taxes
By: Andy Chow | Statehouse News Bureau
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Ohio Senate Republicans made sweeping changes to the House version of the state budget, including larger tax cuts and restored tax breaks. The Senate budget revives the small business income tax deduction on the first $250,000 earned. The House lowered that to the first $100,000. It also brings back the film tax credit and diverts $125 million from school wraparound services to school choice vouchers. When rolling out his budget… Read More
DeWine Urges Lawmakers To Restore Small Business Tax Deduction To $250,000
By: Karen Kasler | Statehouse News Bureau
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Gov. Mike DeWine says he wants lawmakers to erase a change made to a small business tax deduction. It allows many sole proprietorships, partnerships and other small operations to take the first quarter million dollars of their income tax free. DeWine spoke about it before the National Federation of Independent Business Ohio. The budget approved… Read More
H&R Block, TurboTax Accused Of Obstructing Access To Free Tax Filing
By: Laurel Wamsley | NPR
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The IRS says it is reviewing concerns about its Free File program after ProPublica reporting found that tax-prep companies made it difficult to find the program.
Business Groups Blast Change In House Budget As Tax Increase
By: Karen Kasler | Statehouse News Bureau
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Business groups are blasting the House version of the budget for a change it makes to a controversial tax deduction – the one that allows many small businesses to take the first quarter million dollars of their income tax free. The change would drop that income threshold to $100,000. Tony Long at the Ohio Chamber… Read More
W.Va. Senate OKs Dropping Tax on Social Security Benefits
By: Associated Press
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CHARLESTON, W.Va. (AP) – A bill to eliminate West Virginia personal income taxes on Social Security retirement benefits has been passed by the state Senate. The Republican-led Senate voted 33-0 Thursday to approve the bill. The bill now returns to the House, which must concur on Senate changes to phase in the elimination over three… Read More
West Virginia Tax Collections Fall Below Estimates
By: Associated Press
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CHARLESTON, W.Va. (AP) – West Virginia revenue collections have failed to surpass tax estimates for the first time in 10 months. Gov. Jim Justice said Tuesday collections in January were $3 million below estimates, blamed on weaker-than-anticipated monthly personal income tax collections. Overall collections through the first seven months of the fiscal year are $40.9… Read More
Despite 70,000 Furloughed IRS Workers, White House Vows Refunds Will Be Issued
By: Brian Naylor | NPR
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The tax collecting agency is one of those affected by the partial government shutdown, but the White House says it will issue refunds, reversing previous government policy.
High Court Seems To Lean Against West Virginia In Tax Case
By: Associated Press
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WASHINGTON (AP) – The Supreme Court seems inclined to rule against the state of West Virginia and side with a retired U.S. marshal seeking a tax refund from the state. James Dawson says West Virginia unlawfully discriminated against him by excluding him from preferential tax treatment given to most retired state law enforcement officers. Both… Read More
Thousands Of Wealthier Ohioans Are Using A Tax Break Meant For Low Income Wage Earners
By: Jo Ingles | Statehouse News Bureau
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A new study shows tens of thousands of upper income Ohioans are taking advantage of tax breaks meant for poorer residents. Wendy Patton with the progressive group Policy Matters says Ohioans who have LLC’s or pass through accounts for small businesses can earn up to $250,000 tax free. And that’s allowing them to qualify for… Read More
Companies Sue WV Gov.’s Family Companies Over Debts But Find Bank Accounts Empty
By: Brittany Patterson | Ohio Valley ReSource
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The Justice family companies’ difficulties paying taxes over the years are well documented. But tax collectors haven’t been the only ones trying to recover debts from companies once operated by West Virginia Gov. Jim Justice and now in control of his family. A review of court documents by the Ohio Valley ReSource found at least five cases in… Read More
Ohio Officials: Most Taxpayers Taking New Quiz Are Passing
By: Associated Press
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Ohio officials say nearly 1 million taxpayers have taken a new quiz used by the state to catch phony income-tax returns and most have passed it. The quiz initially puzzled some residents. The state’s Department of Taxation tweaked some questions as it sought to cut down on those that people couldn’t respond to because they… Read More