What’s it mean when sale taxes are changed

In Ohio, the governor is proposing a changes in the sales and income taxes. The rates would go down for both, but what the sales tax is applied to would be greatly expanded.

So the question became, what’s the impact? The calculations are simple for sales taxes. Here’s a method you might consider if you want to estimate what people in different income and family situations pay a year in sales taxes. I used tables produced by the IRS, that take into account the differences from state to state.

Read how this worked out in Ohio, and how we completed the analysis by applying the systems from other states to Ohio.

 

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