State governments around the country may have to contend with a bombshell on tax credits recently dropped by the 6th Circuit. The court said that Ohio's investment tax credit -- which allows corporations to offset their corporate franchise taxes in proportion to new machinery they bring to the state -- violates the dormant commerce clause. Dozens of other states that use similar tax credits to lure businesses have taken notice.
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6th Circuit Rejects Ohio's Use of Tax Credit
The National Law Journal
September 17, 2004
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