Press Releases

For Immediate Release
April 30, 2008
Contact: Daniel Navin, Assistant Vice President, Tax and Economic Policy
Ohio Chamber of Commerce
614/228-4201
dnaving@ohiochamber.com

OHIO CHAMBER BIDS GOODBYE TO JOB-KILLING, INVESTMENT-STIFLING TAX

COLUMBUS, OH – For more than 40 years, the Ohio Chamber has advocated reforms of our tax structure that would eliminate barriers to capital investment and job creation. In June 2005, that advocacy culminated in the Ohio General Assembly enacting and former Governor Bob Taft signing HB 66. This legislation approved a comprehensive set of tax reforms that, among other things, set Ohio on a path of repealing the job-killing, investment-stifling tangible personal property tax (TPP tax).

Today marks the due date for the final tax return companies that pay the property tax on business machinery, equipment, inventory, furniture and fixtures must submit. In other words, today is the last time most businesses will have to pay this burdensome and onerous tax that impeded new companies from locating and existing companies from expanding here.

We commend Speaker Husted, President Harris, House and Senate members, and Governor Strickland for their commitment to eliminating the TPP tax and its negative impact on our state’s economy. Stability in a state tax structure is a very important consideration in a company’s decision to locate and invest in one state versus another.

The Ohio Chamber is gratified that our state leaders have stayed true to their commitment to rid our state of this outdated anti-business tax.

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