Ernst & Young analysis concludes the MBR's tax changes would result in "improved business tax competitiveness in Ohio"

The multinational professional services firm Ernst & Young recently conducted an analysis of the tax provisions that constitute Gov. John Kasich's recently introduced mid-biennium budget review (MBR) (See our March 12, 2014, blog post for more information). Commissioned by Ohio Business Roundtable, Inc., the analysis "provides estimates of the impact of the proposal on the effective tax rates paid by representative business taxpayers in selected industries." In addition, both the effective business tax rate in Ohio under current law as well as the rates included in the proposal are compared to "effective tax rates in seven competitive states." Overall, the analysis concludes that "the combination of business and individual tax changes, including the increase in the [Commercial Activity Tax] rate, in the Governor's proposal will result in improved business tax competitiveness in Ohio." For more, read the full analysis.