Ohio Tax Obligations? Last Chance for Amnesty Program – February 05, 2018 by Karen Raghanti

The deadline is quickly approaching for taxpayers from any state who have tax obligations in Ohio and need to come into compliance - and would like to do so with as little pain as possible. If you have unreported or underreported taxes due as of May 1, 2017, this amnesty program is an opportunity to help you resolve your liabilities for less.
The program is available to both business entities and individual taxpayers with Ohio tax obligations and is open from January 1, 2018, through February 15, 2018. Taxpayers who participate will receive ZERO penalties and HALF of any interest owed on qualifying delinquent taxes.
Taxes eligible for amnesty include: 

  • Most delinquent state taxes (except Ohio resort area excise taxes),
  • Tangible personal property taxes,
  • County and transit authority sales taxes, and
  • School district income.

Two of the most commonly unreported or underreported types of taxes, which also happen to be included in the amnesty, are the Ohio Commercial Activity Tax (CAT) and Ohio use tax.
Ohio excludes from the tax amnesty program certain “qualifying delinquent taxes" defined as any tax for which: 

  • A notice of assessment or audit has been issued,
  • A bill has been issued, which relates to a tax period that ends after the effective date of the law, or
  • An audit has been conducted or is currently being conducted. 

Contact your tax advisory team as soon as possible for more information before the program ends on February 15, 2018. You can also learn more on Ohio’s amnesty site.  
Cohen & Company is not rendering legal, accounting or other professional advice. Information contained in this post is considered accurate as of the date of publishing. Any action taken based on information in this blog should be taken only after a detailed review of the specific facts, circumstances and current law.