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LLC loophole takes $1 billion per year from Ohio communities, rewards mostly wealthy residents | Policy Matters Ohio

New analysis from Policy Matters Ohio shows that each year, the Business Income Deduction — known as the “LLC loophole” — costs Ohio communities an estimated $1 billion, without spurring job growth or improving Ohioans’ wellbeing. The analysis shows that the loophole is among Ohio’s most expensive tax breaks; it.

Saturday Stats | Policy Matters Ohio | February 19, 2022

Numeric news from Policy Matters Ohio $51,000: The richest 1% of Ohioans have on average $51,000 more per year than they did 17 years ago, according to a new report by State Policy Fellow, Guillermo Bervejillo. That’s because since 2005, many state legislators and governors pushed corporate and income tax cuts.

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