The revisions will impose sales taxes on professional services â¿¿ including lawyers, lobbyists and accountants â¿¿ in a move that is sure to set off a contentious policy fight at the Statehouse. States that have tried something similar, including Michigan and Florida, have quickly had to backpedal amid concerns implementation was unworkable. The Ohio plan continues to exempt from the tax some widely used daily services, including child care, housing and medical services.The administration hopes to ease some of the opposition by reducing the overall sales-tax rate while expanding the tax to other areas. Kasich said the time has come to rewrite the code to include those services.
Ohio Gov Proposes Income Tax Cut, Hikes Elsewhere
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.