Ohio Eliminates Corporate Income and Personal Property Taxes

Ohio is now just one of two states in the nation without a general tax on either corporate profits or on personal property used in business.

The business tax components of Ohio's sweeping package of tax reforms are now complete. Corporate income taxes have been eliminated. So have property taxes on business inventory, machinery and equipment. Not only that, but Ohio's personal income tax rates are now 16.8 percent lower than they were just five years ago, and an additional income tax cut is scheduled for 2011.

Ohio is systematically making improvements to become the ideal location for companies to compete in the global economy. As a result, Ohio has been awarded the Governor's Cup by Site Selection magazine for three consecutive years as the nation's capital investment leader.

Learn more about what makes Ohio the ideal capital investment location.