Topics:
July 5, 2023 Last Edit: June 5, 2025
Governor DeWine signed the $191 billion two-year spending plan on the Fourth of July
State Budget Calls for Reductions in State Income Tax
Gov. Mike DeWine chose the Fourth of July to sign the state budget into law. The spending plan passed the House and Senate the previous Friday.
The $191 billion two-year budget represented a compromise between the Senate and House versions of the bill. It included $3.1 billion in tax cuts and reduced Ohio’s income tax brackets to just two — 2.75% and 3.5%.
It also enhances Ohio’s August sales tax holiday and, in a big victory for small businesses, includes a provision exempting 90% of Ohio’s businesses from paying the commercial activity tax (CAT) by 2025.
Eliminating CAT liability was a priority for NFIB, State Director Chris Ferruso said. “It’s something our small business members have needed for many years,” he said.
State:
Get to know NFIB
NFIB is a member-driven organization advocating on behalf of small and independent businesses nationwide.
Related Articles
Related
July 23, 2026
An Economic Development Bill Should Help Massachusetts Small Businesses, Not Hurt Them
How does adding new hurdles to a law that refunds taxpayers more of their hard-earned money make Massachusetts more affordable or competitive?
Read More
Related
July 21, 2026
New NFIB Survey: Small Business Optimism Picks Up in June
Inflation pressure is high, but may ease soon.
Read More
Related
July 15, 2026
State Policies Impacting Small Businesses
States considered small business measures during the 2026 legislative sessions, including taxes, minimum wage, extreme heat standards, IRC conformity, and tort…
Read More
Related
July 14, 2026
NFIB Joins Lawsuit Filed Today in the Oregon Tax Court
“The Legislature cannot circumvent a constitutional requirement”
Read More