Tax & Incentives
Ohio Tax Reform
Ohio lawmakers dramatically revamped the state’s tax structure, creating the lowest rates in the Midwest and an extremely profit-friendly business climate for companies that locate here.
- No tax on product sold to customers outside Ohio. Only sales within the state are taxed at a flat rate of 0.0026, which translates to $2.60 per $1,000 of Ohio sales.
- No tax on first $1million in annual gross receipts.
- This provides attractive relief for small businesses, especially those that transact most or all of their business in Ohio. Helps new businesses get established and show a profit sooner.
- No tax on inventory or corporate income.
- No tax on investments in machinery and equipment.