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Below is a snapshot of key features of Ohio's tax system. (Scroll Down)
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State & Local Revenue (FY08)
- General Revenue, Own-Source (GROS): $68.5 billion
- General Revenue as a Share of Income: 16.7%
- Tax Revenue: $46.7 billion
- Tax Revenue as Share of income: 11.4%
- Personal Income Tax (Share of Tax Revenue): 30% (10 out of 51)
- Corporate Income Tax (Share of Tax Revenue): 1.9% (46 out of 51)
- Sales & Excise Tax (Share of Tax Revenue): 31.5% (31 out of 51)
- Property Tax (Share of Tax Revenue): 29.1% (28 out of 51)
- Other Taxes (Share of Tax Revenue): 1.2% (39 out of 51)
Personal Income Tax Features (2011)
- Range of Tax Rates: 0.587% - 5.925%
- Standard Deduction: None
- Personal Exemption: $1,650
- Dependent Exemption: $1,650
- Earned Income Tax Credit (EITC): None
- Range of tax rates falls to 0.587% - 5.925% in 2011 and thereafter
Corporate Income Tax Features (2011)
- Range of Tax Rates: N/A
- Income Level at Which Top Rate Applies: N/A
- Combined Reporting: N/A
- Apportionment Factor (Payroll): 20%
- Apportionment Factor (Property): 20%
- Apportionment Factor (Sales): 60%
- Apportionment Note: Levies a gross receipts tax called the Commerical Activity Tax
Sales Tax Features (2011)
- State Sales Tax Rate: 5.50%
- Average Local Sales Tax Rate: 1.30%
- Average Combined State & Local Sales Tax Rate: 6.80%
- State Sales Tax Treatment of Groceries: Exempt
- Local Sales Tax Treatment of Groceries: Exempt
- Number of Services Taxed: 68 out of 168 surveyed
- Streamlined Sales Tax Membership: Associate
- Vendor Compensation available without ceiling
Property Tax Features (2011)
- Homestead exemption reduces residential property taxes by 12.5%.
- Does not provide a meaningful circuit breaker for non-elderly taxpayers.
Other Tax & Revenue Features (2011)
- Gasoline Tax Rate (per gallon): $0.28
- Diesel Tax Rate (per gallon): $0.28
- Cigarette Tax Rate (per pack): $1.25
- Estate or Inheritance Tax: Yes
- Net Lottery Sales Per Capita: $181
Tax Policy Oversight
- Tax Expenditure Report: Yes
- Tax Incidence Analysis Capability: Personal income tax only
Last Updated August 25, 2011
Sources & Glossary
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