Facts & Figures 2022: How Does Your State Compare?
Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
2 min readHow does Ohio’s tax code compare? Ohio has a graduated state individual income tax, with rates ranging from 2.750 percent to 3.500 percent. There are also jurisdictions that collect local income taxes. Ohio does not have a corporate income tax but does levy a state gross receipts tax. Ohio has a 5.75 percent state sales tax rate and an average combined state and local sales tax rate of 7.24 percent. Ohio has a 1.30 percent effective property tax rate on owner-occupied housing value.
Ohio does not have an estate tax or inheritance tax. Ohio has a 38.5 cents per gallon gas tax rate and a $1.60 cigarette excise tax rate. The State of Ohio collects $5,343 in state and local tax collections per capita. Ohio has $8,017 in state and local debt per capita and has an 81 percent funded ratio of public pension plans. Overall, Ohio’s tax system ranks 36th on our 2024 State Business Tax Climate Index.
Each state’s tax code is a multifaceted system with many moving parts, and Ohio is no exception. The first step towards understanding Ohio’s tax code is knowing the basics. How does Ohio collect tax revenue? Click the tabs below to learn more! You can also explore our state tax maps, which are compiled from our annual publication, Facts & Figures 2024: How Does Your State Compare?
Facts & Figures serves as a one-stop state tax data resource that compares all 50 states on over 40 measures of tax rates, collections, burdens, and more.
2 min readThe FDA’s expected announcement of a national ban on menthol-flavored cigarettes and cigars with a characterizing flavor would carry significant revenue implications for both the federal government and state governments, with likely limited benefits in smoking cessation.
6 min readUnlike other studies that look solely at tax burdens, the State Business Tax Climate Index measures how well or poorly each state structures its tax system. It is concerned with the how, not the how much, of state revenue, because there are better and worse ways to levy taxes.
4 min readA group of lawmakers in Ohio have proposed to repeal the state’s gross receipt tax (GRT), also known as the commercial activity tax (CAT).
5 min readIndividual income taxes are a major source of state government revenue, accounting for more than a third of state tax collections:
28 min readWhile many factors influence business location and investment decisions, sales taxes are something within policymakers’ control that can have immediate impacts.
12 min readWell-designed Net Operating Loss (NOL) provisions benefit the economy by smoothing business income, which mitigates entrepreneurial risk and helps firms survive economic downturns.
24 min readStates are unprepared for the ongoing shift to remote and flexible work arrangements, or for the industries and activities of today, to say nothing of tomorrow. In some states, moreover, existing tax provisions exacerbate the impact of high inflation and contribute to the supply chain crisis.
40 min readThe pandemic has accelerated changes in the way we live and work, making it far easier for people to move—and they have. As states work to maintain their competitive advantage, they should pay attention to where people are moving, and try to understand why.
5 min read