Tuesday, October 27, 2015

Today in the Ohio Senate

The Senate will consider the following legislation for concurrence during today’s session (2:30 p.m.): 
  • Support for Small Businesses: Senate Bill 208, sponsored by Senator Bill Beagle (R-Tipp City) clarifies language adopted in the state's main operating budget earlier this year that lowers the tax burden for small businesses, which are the backbone of Ohio's economy. The Senate continues to refine a flat tax structure so that small businesses pay no taxes on the first $250,000 of revenue and then can take the benefit of a three percent flat tax on any amount over that. This gives Ohio's small business owners the opportunity to reinvest back into their companies, add additional employees, expand their operations and grow Ohio's economy.