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Oct 27, 2023
As a result of the recent passage of Am. Sub. H.B. 33 of the 135th Ohio General Assembly, beginning in 2024, businesses with taxable gross receipts of $3 million or less and, for tax periods beginning in 2025 and thereafter, businesses with taxable gross receipts of $6 million or less will no longer be subject to the CAT.
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Oct 13, 2023
Better than expected collections in non-auto sales tax offset small dips in other sources to yield tax collections slightly above expectations in September, according to preliminary data from the Office of Budget and Management.
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Oct 13, 2023
Last year, Senate Bill 246 (134th GA) authorized pass-through entity owners to “elect” to file a new form IT 4738 and be subject to a new entity-level tax in response to the federal $10,000 SALT deduction cap limit placed on individuals.
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Oct 13, 2023
Late Friday, the IRS announced tax relief for certain individuals and businesses affected by the terrorist attacks in Israel. These taxpayers now have until Oct. 7, 2024, to file various federal returns, make tax payments and perform other time-sensitive tax-related actions.
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Oct 06, 2023
This tax alert is to advise employers that the Ohio Department of Taxation has issued new employer withholding tables to be used for payrolls that end on or after Nov. 1, 2023.
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Oct 06, 2023
The Ohio Board of Tax Appeals has ruled that a taxpayer who manufactured soap in Kansas that was transported to its customer’s distribution center in Ohio was not subject to Ohio Commercial Activity Tax for the soap that ultimately was delivered outside Ohio.
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Oct 06, 2023
In case you missed them, here are some recent interesting tax and financial planning news items from around the web.
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Oct 05, 2023
Investing is as easy as finding an app on your phone, but CPAs have an opportunity to add value to client relationships when they can offer investment advice.
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Sep 29, 2023
A new information release has been issued that summarizes the sales tax exemption for baby products.
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Sep 22, 2023
Last year, Senate Bill 246 (134th GA) authorized pass-through entity owners to “elect” to file a new form IT 4738 and be subject to a new entity-level tax in response to the federal $10,000 SALT deduction cap limit placed on individuals.
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Sep 21, 2023
On September 14, the IRS made the unprecedented announcement to place a moratorium on Employee Retention Credit claims, sending a clear message to ERC mills and helping small businesses.
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Sep 21, 2023
When correctly done, site selection can add to a business’s potential, said one expert, but it’s easy to focus on the wrong things.
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Sep 15, 2023
The IRS and Treasury last week issued a notice describing upcoming proposed regs that will clarify the new requirement from the Tax Cuts and Jobs Act to amortize research costs.
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Aug 18, 2023
House Bill 33 enacted the first major changes to the Commercial Activity Tax (CAT) exemption amounts since its inception in 2005.
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Aug 18, 2023
OH|TAX eServices will modernize how ODT administers Ohio’s Individual and School District Income Taxes
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Aug 18, 2023
Beginning on Jan. 1, 2024, many corporations, limited liability companies and other entities created or registered to do business in the United States must report information about their beneficial owners—the persons who ultimately own or control the company—to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network.
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Aug 18, 2023
In case you missed them, here are some recent interesting tax and financial planning news items from around the web.
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Aug 04, 2023
While members are still awaiting the decision on the 2020 municipal income tax refunds, the Ohio Supreme Court sided with the oil and gas industry in a major decision affirming a series of sales/use tax write-offs for equipment used in oil and gas “fracking.”
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Aug 04, 2023
This September, the Ohio Department of Taxation will launch a new system to manage Ohio's individual and school district income taxes.
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Jul 27, 2023
Ohio will have a sales tax holiday from Friday, August 4, 2023, at 12 a.m. to Sunday, August 6, 2023, at 11:59 p.m.