PDF/Printer Friendly Version Today (June 24, 2022), Ohio Governor Mike DeWine signed Substitute House Bill 515 (“H.B. 515”), providing a needed clarification of the definition of “business income” in Ohio’s personal income tax law. We appreciate the efforts of the sponsors of the companion bills, Representatives Hoops and Riedel and Senators Lang and Roegner. H.B. 515 was supported by a lobbying effort of the BID Coalition created by ZHF, as well as by the Ohio Society of CPA

PDF/Printer Friendly Version On May 16, 2022, the Supreme Judicial Court of Massachusetts (“Court”) decided VAS Holding and Investment LLC v. Mass. Comm’r of Revenue, 489 Mass. 669, overturning the Massachusetts Appellate Tax Board (“Board”) and ruling that an out-of-state holding company’s sale of its investment in a business with Massachusetts operations was not subject to either the Corporate Excise Tax or the Nonresident Composite Tax. Last December, we published a SALT B

PDF/Printer Friendly Version On June 14, Governor DeWine signed Amended Senate Bill 246 (“SB 246”) into law. With the enactment of this legislation, Ohio joins 22 other states that have enacted a “SALT cap workaround,” allowing businesses structured as pass-through entities (“PTE”) to elect to be taxed at the entity level on their income.[1] ZHF is proud to have assisted with the drafting of the new law contained in SB 246 that will help many Ohio taxpayers reduce their feder