Preparing for significant changes to Ohio commercial activity tax for 2024 – Majority of taxpayers will no longer be subject to CAT following increases in annual exclusions.
Ohio’s Budget Bill (H.B. 33) significantly...more
Ohio Commercial Activity Tax has an exclusion from gross receipts for property or money received or acquired as an agent in excess of the agent’s commission fee or other reimbursement. R.C. 5751.02(F)(2)(l). Aramark Corp.,...more
A common question in many Ohio commercial activity tax (CAT) audits is whether federal tax treatment may be relied upon. Although the statute says it should (R.C. 5751.01(K)), the Tax Commissioner is often reluctant to accept...more
3/4/2020
/ Car Dealerships ,
Commercial Activity Tax ,
Corporate Taxes ,
Financing ,
GAAP ,
Gross Receipts Tax ,
Hyundai ,
Income Taxes ,
Secured Debt ,
State Taxes ,
Tax Appeals
The Ohio Department of Taxation has proposed a regulation change that would prevent taxpayers from making a retroactive consolidated filing election for Ohio Commercial Activity Tax purposes (CAT). The rule change appears to...more