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Learn MoreGovernor Mike DeWine signed Amended Substitute House Bill 33 (HB 33) into law earlier this month. The bill includes numerous pro-taxpayer changes, detailed below, for both Ohio businesses and their owners. Operating appropriations of the bill took effect July 4, 2023, while remaining provisions,...
Read MoreWith the enactment of A.B. 4295 on December 22, 2022, New Jersey became the latest state to amend their tax laws to automatically conform to the federal S corporation election. Historically, most states have recognized the federal S corporation election. New Jersey, however, has required a...
Read MoreOn September 23, 2022, Senate Bill 246 went into effect. Beginning with tax year 2022, Ohio pass-through entities (PTEs) may elect to be taxed at the entity level, allowing them to deduct from their federal income the amount of PTE tax they paid for the year. The measure is meant to allow...
Read MoreOn May 6, the New York Senate enacted Bill S8948, giving eligible S corporations and partnerships more time to evaluate and elect the state’s pass-through entity tax for 2022. The new amendment allows entities that missed the March 15, 2022, deadline until September 15, 2022, to make their 2022...
Read MoreWith Ohio Commercial Activity Tax (CAT) audits on the rise, it’s a good time for taxpayers to revisit their CAT group elections to determine whether or not it’s time to make a change. What is the Ohio CAT? The CAT is an annual privilege tax measured by gross receipts delivered within Ohio or...
Read MoreOn Thursday November 5, 2020, the Ohio Supreme Court upheld House Bill 49, which created a centralized collection system for Ohio local business income tax. Over 100 Ohio taxing jurisdictions, including Athens, Akron and Elyria, recently challenged the state’s centralized collection agency, which...
Read MoreAs states continue to offer tax return filing, payment deferrals and other assistance measures in light of the COVID-19 pandemic, we take a closer look at Wisconsin. >> Learn more about relief efforts identified in other states in which our firm is located in our easy-to-use spreadsheet...
Read MoreThere have been many changes in Ohio tax law that may affect your 2018-2019 Ohio and local business and personal taxes. Below is a brief summary of the items taxpayers should consider. 1. Ohio Municipal Centralization Centralized filing started in 2018. Business taxpayers filing multiple local...
Read MoreThe 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...
Read MoreAs part of Ohio’s biennial budget passed earlier this summer, Ohio corporations and pass-through entities have the option to centralize all of their municipal business tax filings through the Ohio Department of Taxation beginning with the 2018 tax year. Registration for the new system began October...
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