Ohio Governor Kasich’s Tax Reform Proposal Introduced - Many Businesses to See a Tax Increase
This week, the Ohio House of Representatives introduced the new biennial budget bill, House Bill 64. The bill contains the language for Governor Kasich’s Blueprint for a New Ohio, which includes major tax law changes which decrease taxes for some and increase taxes for others. The budget proposal also increases general revenue spending by 18% over FY2015. The tax proposal would reduce the income tax burden of individuals and small business owners, while increasing the tax burden of many medium and most large businesses, especially C corporations.