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News Release

June 13, 2001  -  Columbus, Ohio  - Taft Says Taxpayers Will Keep Full Federal Refund

TAFT SAYS TAXPAYERS WILL KEEP FULL FEDERAL REFUND

State Will Not Tax Ohioans’ Estimated $1.7 Billon In Tax Refunds

COLUMBUS (June 13, 2001) — Governor Bob Taft today said that Ohioans will get the full benefit of the estimated $1.7 billion they are expected to receive from President Bush’s tax cut.

“As President Bush has said, this is the people’s money, not the government’s,” Taft said. “A refund is a refund. It is not new income and we will not be charging a state tax on these funds.” According to the National Federation of Tax Administrators, approximately 4,058,000 tax refund checks totaling $1,660,000 will be sent to Ohioans thanks to the federal tax cut legislation President Bush signed into law Thursday. Checks of up to $300, $500 and $600 will be sent, respectively, to single taxpayers, heads of households and couples filing jointly. Taxpayers should receive a letter by mid July detailing how much their refund will be and when it will be mailed, according to the Internal Revenue Service. The checks will be mailed out in weekly batches, based on the last two digits of the taxpayer’s social security number. The IRS’s mailing calendar is: Last 2 digits of SSN Should receive check the week of

00-09--------------------- July 23
10-19----------------------July 30
20-29--------------------- August 6
30-39--------------------- August 13
40-49--------------------- August 20
50-59--------------------- August 27
60-69--------------------- September 3
70-79--------------------- September 10
80-89--------------------- September 17
90-99-------------------- September 24

For more information, contact Kevin Kellems, Governor's Press Secretary, at 614/644-0957 or Gary Gudmundson, Ohio Department of Taxation, at 614/644-6903.