Welcome to state taxes Guide
Connecticut State Taxes Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
You may also listen to this article by using the following controls.
An Overview of Ohio State Taxes
from:The state of Ohio, otherwise known as the Buckeye’s State, has continued to phase down its state income taxes rates in 2006. The top rate is now 6.87 percent, down from 7.185 percent in 2005. The across-the-board rate cuts are scheduled to continue until 2009. Here are more details about Ohio State taxes:
1) Personal Income Tax
Ohio collects income taxes from its residents at the following rates:
- 0.681% on the first $5,000 of taxable income
- 1.361% on taxable income between $5,001 and $10,000
- 2.722% on taxable income between $10,001 and $15,000
- 3.403% on taxable income between $15,001 and $20,000
- 4.083% on taxable income between $20,001 and $40,000
- 4.764% on taxable income between $40,001 and $80,000
- 5.444% on taxable income between $80,001 and $100,000
- 6.32% on taxable income between $100,001 and $200,000
- 6.87% on taxable income of $200,001 and above.
Returns of Ohio State taxes are due on April 15, or the next business day if that date falls on a weekend or holiday. Several cities also levy municipal income taxes. Ohio State taxes the income of school districts that is separated from federal, state and municipal income taxes. School district income taxes are collected through employers’ withholding, individual quarterly estimated payments and annual returns. The money is earmarked specifically to support school districts. If you live in a school district that collects an income tax at any time during the tax year, you must file an Ohio Form SD 100.
2) Sales Tax
On July 1, the state sales tax rate was cut from 6 percent to 5.5 percent. Regional transit authorities may also levy sales tax in multiples of 0.25 percent up to a maximum additional tax of 1.5 percent. The total combined rate for state, county and transit authority may not exceed 8.5 percent.
3) Personal and Real Property Taxes
Tangible personal properties used in business are taxed. However, this tax is being phased out and it is scheduled for elimination in 2009. The state's Property Tax Administration Fund was created to cover the costs incurred by the Department of Taxation in administering local property tax programs. The 10 percent property tax rollback on most commercial and industrial real properties was eliminated in 2005. However, the rollback remains for residential and agricultural real properties.
4) Inheritance and Estate Taxes
Ohio has no inheritance tax because the federal tax law totally revoked the federal credit allowed for state death taxes for dates of death occurring on or after January 1, 2005.
Other facts about Ohio State Taxes
The Ohio Department of Taxation offers numerous online options to its residents, including online filing of Ohio State taxes for personal income as well as school district income tax returns. Taxpayers can go online to check the status of their refunds.
Connecticut State Taxes News
UConn economists see bleak jobs future for state
An economic outlook sees a bleak future for jobs in the state and a potentially devastating loss of young workers.
Read more...Connecticut State Police Changes Are Unwise at Best
It has been evident for years that Connecticut must make financial adjustments to solve its budgetary woes. Legislators on both sides of the political aisle have grappled with the intransigent problem with limited success.
Read more...The Aging, Dying State of Connecticut
UConn economists sound the alarm, again , about something almost everyone knows about: we don’t have enough young people to survive. Whether it’s merely an aging state that never had so many young folks to start with or that the youthful residents we have are a beating a path to Brooklyn and Brookline, we’ve got [...]
Read more...UConn Criticizes State Economic Policy, And The State Fights Back
Get Business Mobile Text Alerts A simmering flap over the state of the state's business climate showed signs of boiling over Thursday as Gov. Dannel P. Malloy's top economic development official issued a statement rebuking a University of Connecticut report that painted a bleak picture.
Read more...Roraback gets GOP endorsement in 5th District race
Republicans from northwestern Connecticut endorsed state Sen. Andrew Roraback on Friday as their candidate to run in state's hotly contested 5th Congressional District race.
Read more...