Tax Tip of the Week | No. 374 | How Much is a Hundred Bucks Really Worth in Ohio?

Tax Tip of the Week | September 28, 2016 | No. 374 | How Much is a Hundred Bucks Really Worth in Ohio?

A hundred dollars will get you more in Ohio than most states.How much is $100 really worth? It depends on where it’s spent.Products often cost less in the Midwest or the Great Plains than on the East Coast. As a result, the same amount of cash can buy comparatively more in a state where prices are lower.Using price data from the Federal Bureau of Economic Analysis, the Tax Foundation, a nonprofit, nonpartisan tax research organization based in Washington, adjusted the value of $100 to show how much it buys in each state and the District of Columbia.In Ohio, a C-note is worth $111.98, which is among the highest in the country. That isn’t too surprising as the Buckeye State is routinely recognized for its affordability. Many businesses have relocated to Ohio, and the Dayton region, to take advantage of that.The states where $100 is worth the most are Mississippi ($115.34), Arkansas ($114.29), Alabama ($113.90), South Dakota ($113.64) and West Virginia ($112.49).On the flip side, that $100 is only worth $84.67 in the District of Columbia; $85.62 in Hawaii and $86.43 in New York.Now, go spend some of those cheap dollars!!!You can contact us in Dayton at 937-436-3133 and in Xenia at 937-372-3504.  Or visit our website.Rick Prewitt – the guy behind TTW...until next week.