New Ohio House bill could affect tax abatement deals, mayors say

A bill that has passed the Ohio House could affect past and future tax abatement deals, mayors of some Ohio cities said in a recent article. The bill “would allow employees to receive refunds on income taxes if they work from home” in a different city from their company’s location, according to the article. Cities that give tax breaks to attract or keep businesses expect to collect income tax from employees; Columbus Mayor Andrew Ginther “says the loss of that income could change tax abatement agreements.” This could lead to clawbacks in some existing tax abatement deals, and also make Ohio cities “less attractive to new businesses,” some mayors said. For more, read the full article.

Economic Development, Financial Incentives, State Updates