Many small businesses across the country relish the idea of tax savings for personal and business matters. When Gov. Kasich talks about a $696 million tax cut for small businesses, we believe that it will amount to something substantial for our business, when in reality the tax cuts are meager to say the least. The Ohio Department of Taxation believes that each eligible business would save an approximate $935 a year. That is hardly conductive to more hiring and giving a boost to the economy as proposed by the current Ohio administration.
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Report: Ohio consumers are at a high risk of ID theft
The National Consumers League has issued a report that analyzes new Federal Trade Commission data that indicates Ohio remains a hotspot in the national fraud epidemic and that Ohio consumers are at a high risk of ID theft.
Ohio was ranked the 20th highest-ranked state in per-capita identity theft complaints to the FTC in 2014. Government benefits, credit card and utilities fraud accounted for most of the 9,161 identity theft complains received in Ohio. Fifty-four percent of Ohio residents who filed complaints reported a loss. The average amount reported paid was $1,428. he Cleveland-Elyria metropolitan area ranked in the top fifty nationally in per-capita identity theft complaint rates.
AT&T continues Ohio job growth, hits milestone
AT&T is continuing its Ohio job growth with the latest round of hiring for call center workers as it surpasses a hiring milestone.
The latest 120 new jobs in the state, including some in Dayton, are pushing the telecommunication giant’s total job growth in Ohio to more than 1,700 in the past two years.
Positions filled in the past two years included IT/engineering, retail, technician, call center, business solutions, and corporate support categories.
AT&T says the hiring reflects its continuing investment in its Ohio network and team. The company made more than 830 upgrades to its wireless network in Ohio in 2014, including the launch of service for former Alltel subscribers in more than 20 northern Ohio counties. The integration of former Alltel towers into the upgraded network increased AT&T’s cell towers in these areas of Ohio by nearly 40 percent.
Most small businesses would see limited savings from John Kasich’s tax cut plan
COLUMBUS, Ohio — More than 90 percent of the roughly 1 million businesses eligible for Gov. John Kasich’s proposed small-business tax cut would save less than $364 per year, according to state statistics.
Kasich and administration officials say his proposal to stop collecting state income tax from small businesses will create jobs and give the state’s economy a boost. But critics say that most of the businesses that would benefit from the change are too small, and the savings too meager, for them to make new hires.
The $696 million tax cut, laid out last week in the governor’s state budget plan, would apply to Ohio business owners who report yearly gross receipts of $2 million or less on their individual tax returns. That includes limited liability companies, S corporations, sole proprietorships, and partnerships.
