Check-cashing firm gave generously, gets tax break

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http://www.cleveland.com/news/plaindealer/index.ssf?/base/news/1136885825308260.xml&coll=2

Tuesday, January 10, 2006
Julie Carr Smyth
Plain Dealer Bureau

Columbus - State lawmakers cleared the way Monday for a politically generous check-cashing company already wooed with millions of dollars in state incentives to shave money from its federal tax bill.

State Sen. Ray Miller, a Columbus Democrat, questioned why Ohio seems to be taking pains to encourage Dublin-based Buckeye Check Cashing Inc., when he sees its business as preying on the poor.

"I can't see why we, as a state, support a business that we know charges excessive fees, interest rates to our citizens," Miller said, in casting the State Controlling Board's lone objection to a tax-saving name shuffle at the firm. "It just doesn't make sense."

Since 2004, Ohio has extended Buckeye Check a 60-percent, nine-year tax credit for the firm; offered it $100,000 to invest in training; and approved a development loan package worth more than $7 million. The firm did not accept the latter loan...