Ohio Commercial Activity Tax: NASCAR laps the field as Ohio Supreme Court rules broadcast and media revenue is not subject to Ohio tax.
December 6, 2022
The Ohio Supreme Court has ruled that NASCAR’s broadcast, media, licensing, and sponsorship revenue is not subject to Ohio’s Commercial Activity Tax (“CAT”). Ohio’s CAT statute situses gross receipts from intellectual property to Ohio only “to the extent” they are “based on the right to use the property” in Ohio. R.C. 5751.033(F) (emphasis added). The… Read More
Ohio Income Tax – Ohio Clarifies when Sales of Business qualify for Favorable Business Income Treatment
August 23, 2022
Ohio has finally given taxpayers long-awaited clarity on the tax treatment for sales of business. H.B. 515 specifically addresses two situations when gains from the sale of an equity or ownership interest qualify as “business income” for Ohio income tax purposes. R.C. 5747.01(B). The sale of an equity or ownership interest of a business is… Read More
Ohio Real Property Tax – Ohio severely restricts school districts’ rights to challenge property values
June 21, 2022
Recently-enacted HB 126 significantly alters the rights and procedures for local school districts (among other government entities) to contest property valuations for real property taxes. The changes described below will affect current and future valuation complaints and appeals. Accordingly, this is an opportune time for property owners to review their approach to property taxes and… Read More
Ohio Income Tax – Ohio Jumps on Trend to Codify SALT Deduction Cap Workaround
June 16, 2022
Last year, this post explained that investors in Ohio pass-through entities (PTEs) may be able to avoid the $10,000 state and local tax (SALT) deduction cap using Ohio’s composite return election. Now a little over a year later, Ohio has ended any uncertainty and joined the growing number of states passing SALT Cap Workaround laws… Read More