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Sponsors present bill to exempt most firearms and ammunition from sales tax and add job credit for manufacturers
Summary
Senate Bill 59 would exempt qualifying firearms and ammunition from state sales and use tax and create a job tax credit tied to capital investment; sponsors said the change would keep business in Ohio while the Legislative Service Commission estimated substantial revenue reductions if enacted.
Senate sponsors presented Senate Bill 59 to the Ways and Means Committee, saying the bill has two goals: exempting firearms and qualifying ammunition from state sales and use tax, and creating a job-creation tax credit for manufacturers that make a qualifying capital investment.
The exemption discussed would apply to non-shotgun firearms 50 caliber or smaller, shotguns 10 gauge or smaller, and ammunition designed for those firearms. Sponsors…
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