Ohio

Ohio has an income tax, from .587% to 5.925%. Social Security is exempt. Retirement income credits are available, but are nominal at best.

Ohio has a 5.5% sales tax. Municipalities may levy an additional 2% for an effective tax rate of 7.5%. Gasoline and Diesel are taxed at $.28/gallon and Cigarettes are taxed at $1.25/pack.

Ohio does have a state level property tax, enforced and collected by the municipalities. Property is assessed at 35% of market value and must be appraised every 6 years. Homestead is available. Additional information can be found at the Ohio Department of Tax site http://tax.ohio.gov/channels/government/documents/Bulletin_23_Homestead_EX_Rev_01_09.pdf.

Ohio has no Inheritance Tax but does have an Estate Tax. The Estate Tax threshold is at $338,333 and is scaled as the amounts increase. Additional information can be found at the Ohio Department of Tax site http://tax.ohio.gov/divisions/estate/index.stm.

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