New Year, New members! Help us welcome the following businesses that joined the chamber in December. Click on the links to learn more about them.
For 2024, the Ohio Commercial Activities Tax (CAT) has been changed so that all businesses may exclude their first $3 million of taxable gross receipts. Starting in 2025 and thereafter, their first $6 million of taxable gross receipts will be excluded. Businesses with gross receipts below that threshold will pay no tax, while businesses with higher gross receipts will pay 0.26% of their receipts in excess of that threshold - effectively repealing the CAT minimum tax. As a result, our middle market and larger businesses will also benefit from the increased exemption levels.