Third TechCred Application Period Open throughout March

PDF/Printer Friendly Version The third round of applications for the new TechCred program, which offers state reimbursement for businesses that upskill current employees, will open on Monday, March 2 and run through the end of the month, Lt. Gov. Jon Husted announced Wednesday. The first round closed on Oct. 31 and led to 234 employers approved to provide 1,576 credentials. The second round closed on Jan. 31 and those applications are still being reviewed, with awards expected later in February. “Momentum for TechCred is growing with Ohio businesses as our job creators are seeking to upskill their employees,” Husted said in a release, as he serves as director of the Governor’s Office of Work

Rockies Express Dealt a Blow; Receipts From Transporting Gas Solely within Ohio Not Excluded from Pu

PDF/Printer Friendly Version The Ohio Supreme Court ("Court") recently considered the application and constitutionality of the Ohio public utility excise tax on certain receipts earned by an interstate pipeline. Rockies Express Pipeline, LLC v. McClain, Slip Opinion No. 2020-Ohio-410 (February 11, 2020). The receipts at issue were paid to Rockies for transporting natural gas that entered Rockies' pipeline in Ohio and was delivered to a location within Ohio. Approximately 94.1% of the gas delivered in Ohio was delivered to another interstate pipeline, 1.9% was distributed to a local distribution company, 2.8% was delivered to an industrial end-use customer and 1.2% was "delivered" to a vir

New Ohio Department of Taxation Program Seeks Information on Schedule D Gains Listed as "Busine

PDF/Printer Friendly Version Starting in November and December of last year, the Ohio Department of Taxation's ("ODT") personal income tax ("PIT") unit started sending out hundreds of letters seeking information on federal Schedule D gains that were listed as "Business Income" on the PIT return Form IT BUS. "Business Income" is eligible for the Business Income Deduction ("BID") and the lower flat tax rate on business income. The Schedule D portion of a taxpayer's federal income tax return, Form 1040, contains information on the capital gains and losses claimed by the taxpayer, which could include sales of stock and other business interests. ODT seeks factual information, such as a copy of

Hyundai Drives Three Issues to Win; Board Relies on Federal Income Tax and Accounting Treatment

PDF/Printer Friendly Version On Thursday, February 6th, the Ohio Board of Tax Appeals ("Board") issued a decision reversing the Tax Commissioner's Final Determination that affirmed a commercial activity tax ("CAT") assessment against Hyundai Motor Finance (nka Hyundai Capital America)("HCA"). Hyundai Motor Finance Company (nka Hyundai Capital America) v. McClain, BTA No. 2015-785. HCA is a captive automobile finance company that provides indirect retail vehicle loan and lease financing by purchasing retail installment sales contracts ("RISCs") and leases from Hyundai and Kia dealers. Each of the three activities assessed by the Tax Commissioner is described separately herein. Receipts from

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