This week, The Ohio House Ways and Means Committee held its first hearing on House Bill 386, which would phase-out the state income tax on nonbusiness income over six years and repeal the Commercial Activity Tax (CAT) after 2029. Ohio’s CAT and personal income tax represent nearly half of the state’s Fiscal Year 2023 tax revenue. The OMA has urged caution with previous legislative proposals that would repeal the CAT as it could result in shifting the state’s business tax burden to manufacturers during times of economic downturn and state revenue shortfalls. 4/09/2024