Prepared By :  D'Anniballe & Company, Inc.
	August 18, 2004
Ohio Warehousing Company
Summary of Taxes
Ohio Corporation Taxes
(Pay the greater of Income Tax or Franchise Tax)
Ohio Corporate Income Tax					Litter Tax		Total
	50,000.00	0.051		2,550.00	55.00		2,605.00
	250,000.00	0.085		21,250.00	275.00		21,525.00
Net Income	300,000.00			23,800.00	330.00		24,130.00
Ohio Franchise Tax ( Net Worth)
Net Worth	1,000,000	0.004		4,000.00	140.00		4,140.00
Jefferson County Personal Property Tax
Inventory	600,000.00	@ 23.00%	Listed Value		138,000.00
Equipment	2,000,000.00	@ 94.40 %	Depreciation	1,888,000.00
		@ 25.00%	Listed Value		472,000.00
		Total Listed Value			610,000.00
			Less Exemption		(10,000.00)
		Taxable Value			600,000.00
		Tax Rate	(Per 1,000)		52.55
		Tax			31,530.00
Jefferson County Real Estate Tax
Cost of Real Estate		1,500,000.00
	35.00%  Assessed Value			525,000.00
	Tax Rate - Per 1,000		52.55
		Gross Tax		27,588.75
		Less Credit		(3,682.05)
		Net tax		23,906.70
		Less Rollback - 10.00%		(2,390.67)
		Net Tax		21,516.03
Payroll Taxes - State of Ohio
State Unemployment
(First 9,000 of wages taxable)		Est  Initial Tax Rate		2.70%
	Taxable Wages			360,000.00
		Tax		9,720.00
State Workers Compensation					Est % of		Est Taxable
					Total Wages		Wages	Tax
	Tax Rates	Warehouse Wages		0.030796	82.00%		820,000.00	25,252.72
		Outside Sales Wages		0.004312	10.00%		100,000.00	431.20
		Clerical Wages		0.003128	8.00%		80,000.00	250.24
							1,000,000.00	25,934.16
Summary of Taxes
Corporate Income Tax				24,130.00
Corporate Franchise Tax				-
Personal Property Taxes				31,530.00
Real Estate Tax				21,516.03
Payroll Taxes
Unemployment				9,720.00
Workers' Compensation				25,934.16
		Total		112,830.19