Paul E. Kostyu reports:
Income taxes on small businesses will go down next year, Ohio’s governor promised Wednesday, but he wouldn’t say by how much.
In a year-end press conference with statehouse reporters on Wednesday, Gov. John R. Kasich said the “income tax is too darn high. We’ve lowered it, but it’s too high.”
Kasich said he will send legislation to the General Assembly to lower income taxes on small businesses, but he didn’t say how that would be accomplished or by how much. The state income tax rate ranges from 0.58 percent to 5.92 percent based on income.
Incorporated businesses pay federal income taxes, state income taxes in most states and local income taxes in some areas. The bulk of small businesses in Ohio pay their taxes through the personal income tax, according to the Kasich administration.
“We’re talking about something that’s reasonable,” he said. “We can significantly lower it to help us grow faster.”
Democrats criticized the governor for not being specific.
“The governor’s comments covered a wide range of issues,” said Senate Minority Leader Eric H. Kearney, D-North Avondale, in a statement, “but offered few specifics about his forthcoming proposals for school funding and tax reform. If he truly wants to be bipartisan, then Gov. Kasich should invite Democrats to be part of the process from beginning to end.”