Study finds that Ohio's tax burden on businesses is one of the lightest in the U.S.
A study titled "Location Matters: A Comparative Analysis of State Tax Costs on Business," conducted by a Washington, D.C. nonpartisan think tank known as The Tax Foundation, has found that Ohio has "the third-lowest tax burden in the country for newly established businesses" and the fifth-lowest tax burden for mature businesses, The Toledo Blade reports. Among other things, the study credits the state's low-rate gross receipts tax, property tax abatements, and withholding tax credits for easing the burden on new businesses and the lack of a formal corporate income tax as benefitting mature Ohio businesses. Ohio was the only state in the top five of both lists. For more, read the full story here and the full report here.
