Ohio Real Property Tax – Were you impacted by the wave of property tax increases? It’s time to check if your property tax valuation is inflated
March 5, 2024
As we’ve seen significant property value appreciation over the last few years, owners and commercial/industrial tenants need to be aware of the opportunity to contest their property’s valuation. Objections to real property tax valuation to reduce 2023 taxes, paid in 2024, must be filed with your County’s Board of Revisions by April 1, 2024. Many… Read More
Employee Retention Credit on the Chopping Block as Congress Mulls Tax and Spending Bills
January 23, 2024
The Tax Relief for American Families and Workers Act of 2024 (H.R. 7024) would terminate the employee retention credit (ERC) for claims filed after January 31, 2024. Initially authorized by the CARES Act to incentivize businesses to retain their employees, the ERC provided substantial cash refunds to businesses negatively affected by government COVID-19 orders. But… Read More
Taxpayers with less than $3m annual exclusion should cancel Ohio CAT account effective 12/31/23
December 5, 2023
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 changed corporate activity tax (“CAT”) by increasing the annual exclusion beginning with the 2024 tax year. H.B. 33 eliminated the CAT’s alternative… Read More
Ohio BTA Denies CAT Agent Exclusion in Aramark v. Harris
November 29, 2023
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., the taxpayer in this case, contracted with educational, healthcare, and government institutions to provide food service operations. See Aramark Corp. v…. Read More