Ohio Report for Tuesday, October 21, 2014 Senate Report

Nearly Half Of Eligible Small Businesses Leave New Tax Cut Unclaimed

Slightly more than half of the 717,000 businesses eligible for the new small business tax cut actually claimed it this year, according to preliminary data the state released Tuesday.

Initially created in last year's biennial budget (HB 59*), lawmakers expanded the program in the recent mid-biennium review bill (HB 483*) after the April tax deadline revealed a relatively tepid response among eligible taxpayers. (See Gongwer Ohio Report, April 21, 2014)

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