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July 2011: Amnesty Ohio Use Tax Program: Read the article about the newest legislation signed into law.

Ohio Gov. Ted Strickland?s first biennial budget was introduced in the Ohio General Assembly in mid March.  As expected much of the budget is focused on how to pay for education in Ohio.

While there are proposed changes to individual taxes, Gov. Strickland?s budget allows time for the major tax reforms enacted in 2005 to be fully implemented.

Ohio Tax Department Issues Guidance On Property Classification 

Anyone who has dealt with Ohio sales and property taxes in recent years is aware that classifying property for sales and property purposes is a fluid situation at best.

In early April Tax Commissioner?s Opinion 07-0001 was issued. While the guidance deals specifically with improvements related to golf courses, there is a nice discussion of the Ohio Tax Department?s interpretation of the Fun Time and Oregon Ford cases. Here is a link to the opinion:

http://tax.ohio.gov/divisions/legal/documents/07PPT_Opinion070001_RAL.pdf

Are You Planning A New Building, Adding To An Existing Building or Remodeling?

If you can answer yes to any of these questions your company may be eligible for credits against Federal Income Taxes.

Towe and Associates has partnered with a leading provider of asset study and cost segregation services. Many of our clients have received significant reductions in the Federal tax liability.

Please call Carl Towe, Barry Wolf or your Towe and Associates Representative for additional information at 937-698-7086.

Sales and Use Tax Worries?

Did you know that Towe and Associates sales tax staff has more than 400 years of experience? Put this experience to work for you.

Towe and Associates can help resolve past sales and use liabilities, help you with nexus issues or assist you in improving your sales and use tax controls and procedures.

Please call Carl Towe, Barry Wolf or your Towe and Associates Representative for more information at 937-698-7086.

The information in this Newsflash and the attached edited Ohio Pending Case Report is believed to be accurate but is not warranted.

Towe & Associates' Ohio Pending Cases Report in PDF format is available for download.

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