ohio | TaxConnections

15 Jan 2020

8 New State Laws You Should Know For 2020

In the state tax world, the beginning of the year means new legislation goes into effect. Are you curious about which laws changed at the beginning of the month? Keep reading for eight states with new and updated sales tax laws you won’t want to miss.

Georgia: 529 Plan State Tax Update

For Georgia residents using a 529 Plan to save for college expenses, state tax deductions will double to be:

$4,000 per child for single taxpayers
$8,000 per year for those filing jointly with a spouse

This deduction will be available beginning with the 2020 tax year.

Written by Monika Miles | Posted in TaxConnections

24 Sep 2019

Ohio, Oklahoma Sales And Use Tax – Oregon Has No Sales And Use Tax

Ohio State Sales And Use Tax

As of September 1, 2013, the state of Ohio levies a 5.75% state sales tax on the retail sale, lease or rental of most goods and some services. Local jurisdictions impose additional sales taxes ranging between 0.75% and 2.25%. The range of total sales tax rates within the state of Ohio is between 6.5% and 8%.

Use tax is also collected on the consumption, use or storage of goods in Ohio if sales tax was not paid on the purchase of the goods. The use tax rate is the same as the sales tax rate. Returns are to be filed on or before the 23rd day of the month following the month in which the purchases were made. For example, purchases made in the month of January should be reported to the state of Ohio on or before the 23rd day of February.

Written by Aaron Giles | Posted in Oklahoma • Sales And Use Tax

16 Apr 2018

Residential Property Tax Abatements: Are You Overpaying Your Property Taxes?

It is no secret that tax incentives are commonly offered to businesses in exchange for job creation and community development. It is lesser known, however, that tax incentives serving a similar purpose are also offered to owners of residential property. Community Reinvestment Areas, or “CRAs,” are designated areas within municipalities or unincorporated county areas that local governments designate as neighborhoods containing housing facilities or structures of historical significance and where “new construction” is discouraged. The underlying goal of establishing a CRA is to revitalize, rehabilitate, and remodel existing structures within the boundary of the CRA. Ohio currently has over 400 cities, townships, and villages with established CRAs. Read More

Written by Thomas Zaino | Posted in CRA • Property Tax

12 Mar 2018

County Auditors Seek Legislation To Increase Real Estate Conveyance Fee Tax Collections

County Auditors in Ohio are permitted to collect a fee for the administration related to the transfer of deeds. There are two elements to the “real estate conveyance fee” (which is also commonly referred to as the “real estate transfer tax”). R.C. 319.54 levies a fee that is measured as 10 cents of every 100 dollars of the value of the real property transferred. Counties, under R.C. 322.02, are also given the authority to levy an additional real estate transfer tax of up to 30 cents per one hundred dollars of value (grand total of maximum fee/tax of 40 cents of every 100 dollars of value of real property transferred; or, denoted as a decimal 0.004). Read More

Written by Thomas Zaino | Posted in Real Estate

09 Mar 2018

NASCAR Holdings V. Testa: A Yellow Flag For Tax Practitioners And Taxpayers

In NASCAR Holdings, Inc. v. Testa, decided December 21, 2017, the Ohio Supreme Court held that the filing of a notice of appeal with the Ohio Board of Tax Appeals (“BTA”) by an attorney not licensed in Ohio did not deprive the BTA of jurisdiction over the appeal. The Court followed the plurality opinion in Jemo Assoc., Inc. v. Lindley, 64 Ohio St.2d 365 (1980), which reversed the BTA’s dismissal of the appeal because it was filed by a corporate accountant. Jemo stated that the proper inquiry in determining whether the notice of appeal invoked the BTA’s jurisdiction is whether the person who filed the notice of appeal was authorized by the taxpayer to file the appeal. Read More

Written by Thomas Zaino | Posted in Ohio Tax

22 Feb 2018

Municipalities Lose Preliminary Injunction Request – Register For Centralized Collection Of Municipal Net Profit Tax

Yesterday, February 21, 2018, Franklin County Court of Common Pleas Judge David E. Cain denied the request for a preliminary injunction from the municipal group that is comprised of more than 160 municipalities. The language of the decision has yet to be published. Zaino Hall & Farrin LLC will provide a more detailed analysis once the language is available.

This decision puts to rest, for now, an effort by municipalities to forestall the state’s centralized collection of tax on behalf of municipalities, as well as keeps in place the elimination of the anti-competitive municipal throwback rule for years beginning in
2018. A hearing on a permanent injunction is scheduled for December 2018. Read More

Written by Thomas Zaino | Posted in Municipal Tax • Ohio Tax

02 Aug 2017

Ohio’s New Online Sales Tax: Cookies Creating Nexus?

What do cookies, nexus and online sales tax have to do with each other? States are continuing to look for ways to justify charging sales tax to internet retailers; Ohio just took a page out of Massachusetts’ book.

Massachusetts’ Online Sales Tax Directive 17-1

A couple of weeks ago we shared that Massachusetts created a directive that redefined nexus to include internet cookies, Read More

Written by Monika Miles | Posted in State Tax

02 Sep 2016

Nexus News: The Latest From Ohio And South Carolina

As lawmakers continue to debate how to make online sales tax feasible for the whole country, the issue of nexus continues to reign supreme for states attempting to increase their revenue from internet retailers. The latest in nexus news comes out of Ohio and South Carolina, two states that recently released details about how nexus is defined in their states.

Written by Monika Miles | Posted in Sales/Use Tax • Small Business • State Tax