Tax break proposed for investors in Ohio companies

COLUMBUS (AP) — Gov. John Kasich says he hopes to spur investment in the state with a proposal to offer tax breaks to individuals who invest in Ohio companies.

The Columbus Dispatch reports that the Republican governor told the Ohio Society of Certified Public Accountants today that Ohioans who invest in a company and hold that investment for two years would pay no tax on the gain under the plan.

Kasich’s director of job creation says the plan also includes a tax credit for anyone who sells stock and reinvests that gain in an Ohio company.

House Minority Whip Tracy Maxwell Heard says the proposal “sounds lame.” The Columbus Democrat says Ohio can’t keep making extensions to businesses without seeing a return.