COLUMBUS, Ohio – State Senator Larry Obhof (R–Medina) recently announced the Senate passage of legislation to reduce the filing fees necessary to start a new business in Ohio. House Bill 3 will reduce these start-up costs by nearly 21 percent. Obhof sponsored a similar bill, Senate Bill 26, which passed the Senate in March.
“House Bill 3 builds upon reforms we have made in recent years to improve our state’s economy, such as cutting taxes and implementing regulatory reform,” said Obhof, who co-sponsored the bill. “Once Governor Kasich signs this bill, it will be less expensive to start a business in Ohio.”
House Bill 3 reduces Ohio’s current filing fee nearly 21 percent, from $125 to $99. Other states report filing fees as high as $500, and some require additional annual renewal fees.
The reductions in House Bill 3 will be Ohio’s first new business filing fee reductions in modern history. The change was supported by Secretary of State Jon Husted, whose office is responsible for accepting and procession new business filings.
House Bill 3 also ensures that Ohio-based companies will have access to the appropriate features and information on OhioMeansJobs.com, a statewide database of job openings intended to give Ohioans’ greater access to job opportunities by linking employers and people who are looking for work.
Ohio’s business climate has improved in recent years. In 2014, 93,775 new businesses filed with the Secretary of State’s Office, making it the fifth consecutive year that the state had a record number of new business filings. Since December 2010, the state’s private sector employers have added more than 337,000 new jobs, and Ohio’s unemployment rate has fallen from 9.4 percent to 5.1 percent in March 2015.
House Bill 3 passed with a bipartisan, unanimous vote. It will now go to the Governor for his signature.