Oh those Republican Governors! Last year, Ohio’s Tax Commissioner Joe Testa reviewed the state’s 20 or so tax computer systems to identify and fix inefficiencies. During that process, he discovered unexplained credit balances and that 3,500 businesses had overpaid $13.7 million in commercial activity taxes, which are imposed on gross receipts over $150,000.
Rather than hoard the cash, Ohio Governor John Kasich has instructed the Department of Taxation to refund the hard-earned money extending to the four-year statute of limitations and to audit returns for 184,000 other businesses who may have overpaid their taxes.
President Obama owes his re-election in no small part to the economic recoveries in Republican governed states like Ohio where unemployment has fallen from 9% to 6.8% when Mr. Kasich entered office in January 2011. Job growth nationally has been more evasive.
Mr. Kasich erased an $8 billion deficit without raising taxes, and streamlined regulations. The state expects to end the fiscal year with a budget surplus.
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