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Tax cut for Ohio tiny businesses goes unclaimed

COLUMBUS, Ohio (AP) — A taxation cut for small-business owners has not been claimed as frequently as expected.

Republicans, including Gov. John Kasich, have promoted a taxation reduction as a approach to assistance tiny businesses expand. Owners could take a 50 percent taxation reduction on adult to $250,000 of income for 2013.

The Columbus Dispatch reports that only 379,000 business filers took a taxation reduction as of Oct. 19. That’s roughly half of a 717,000 filers a state’s Department of Taxation expected when a Republican-dominated Legislature upheld a taxation mangle in Jun 2013.

The journal reports that those business filers saved $287 million in income tax. That’s next a $533 million in projected savings.

A state taxation orator says it’s too early to contend because a numbers didn’t compare a expectation.

 

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