What's cut?

January 1, 2008 at 2:00a.m.

WHAT’S CUT?

Some state tax changes in Ohio in 2008:

Income tax: Cut 4.2 percent for individuals.

Tangible personal property: This business tax is cut in half from 2007. It will disappear next year.

CAT: Commercial Activity Tax for businesses increases from 0.156 percent to 0.208 percent of gross receipts.

Corporation franchise tax: A cut this year will take this tax to 40 percent of 2005 levels.

Source: Ohio Department of Taxation