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
The Ohio Board of Tax Appeals recently allowed a taxpayer to retroactively elect to be taxed as a consolidated taxpayer for Ohio commercial activity tax, even after an audit had commenced. Nissan North America, Inc. v....more
10/22/2019
/ Abuse of Discretion ,
Affiliates ,
Commercial Activity Tax ,
Corporate Taxes ,
Gross Receipts ,
Gross Receipts Tax ,
Intercompany Transactions ,
Nissan ,
Retroactive Application ,
Tax Appeals ,
Tax Audits ,
Tax Commissions
Vendors selling out of state but not collecting sales tax are on a path to suffering severe financial loss. The tax liability could be astronomical – enough to devastate a business – as high as 10% or more of total sales for...more
6/10/2019
/ Business Taxes ,
Corporate Taxes ,
Income Taxes ,
Interstate Commerce ,
Out-of-State Companies ,
Sales & Use Tax ,
Tax Assessment ,
Tax Audits ,
Tax Liability ,
Tax Planning ,
Tax Returns ,
Vendors