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Tax Information

 

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