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Pennsylvania State Income Taxes Article
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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.
Pennsylvania State Income Taxes News
The Politics of the Budget: For Christie, Any Income Tax Cut Will Do - WNYC
 WNYC | The Politics of the Budget: For Christie, Any Income Tax Cut Will Do WNYC By Mark Magyar The Republican governor started out in January calling for a 10 percent across-the-board income tax cut. The cut would mostly benefit the wealthy, but Christie defended it on the basis of economic competitiveness, arguing that it was ... N.J. Missed Revenue Targets 'Credit Negative,' Moody's Says Moody's: New Jersey revenues will continue to be "muted" |
Allentown Arena Settlement Offer Rejected - Patch.com
 Allentown Morning Call | Allentown Arena Settlement Offer Rejected Patch.com The state law that enabled the Neighborhood Improvement Zone to come into existence in Allentown be amended to conform to Pennsylvania's Constitution. Earned income tax and other local revenue sources to be siphoned from surrounding municipalities to ... Hanover rejects Allentown's arena settlement offer |
Boost Pennsylvania business climate - Patriot-News
 Patriot-News | Boost Pennsylvania business climate Patriot-News Our state has dramatically low national rankings in areas of key economic indicators, such as job creation, population growth, business start-ups and patent creation. The Tax Foundation ranks Pennsylvania 50th for imposing the heaviest overall taxes on ... |
Pennsylvania House panel considers eliminating school property tax - Pittsburgh Post Gazette
 Patriot-News | Pennsylvania House panel considers eliminating school property tax Pittsburgh Post Gazette By Tom Barnes / Pittsburgh Post-Gazette HARRISBURG -- The House Finance Committee today wrangled with a controversial idea -- eliminating school property taxes and replacing the money with higher state personal income taxes and higher state sales taxes ... Plan to eliminate property taxes hits hurdle Cumru activist testifies against state property tax Eliminate school property tax |
Analysis: State income up in April, but may not be enough - Reuters
Analysis: State income up in April, but may not be enough Reuters Likewise, Pennsylvania's income tax collections were up 8.3 percent last month to $1.7 billion and were also $26.4 million below forecast, the state's revenue department reported. The discrepancy springs from some states counting on last year's burst ... |