A business-friendly tax environment makes Cleveland competitive. The State of Ohio’s five-year tax reform has lowered business tax burdens by more than half, eliminating taxes on inventory, corporate income and investments in equipment.
Ohio's new tax environment means businesses can:
Reduce operating costs – No tax on inventory or corporate income
Enhance productivity – No tax on investments in machinery and equipment
Enjoy a level playing field – All companies taxed the same low rate
Boost return on investment – No tax on product sold to customers outside Ohio
Reward entrepreneurship – First $1 million in gross receipts are tax-free; companies with sales between $150,000 and $1 million pay only a $150 flat fee
The State of Ohio enjoys a favorable tax structure for businesses. Find out how we compare to other States by clicking here.
Source: Mohr Partners Economic Development Services