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Are Forward Contracts the Sale of Tangible Personal Property or the Sale of an Investment or Trading Asset? 

Recently, the Board of Tax Appeals (“BTA”) issued its first two decisions addressing the Commercial Activity Tax (“CAT”) situsing pro...

The “As Introduced” version of Ohio’s proposed biennial budget bill, H.B. 49, proposes to narrow the exclusion of interest from the Commercial Activity Tax (“CAT”).  Under current law, CAT gross receipts exclude “interest income except interest on credit sales” (see R....

On January 17, 2017, the Ohio Board of Tax Appeals (the “Board”) issued its decision in Pi in the Sky, LLC v. Testa, BTA No. 2015-2005. The Board agreed with the Ohio Tax Commissioner ("Commissioner") that under the specific facts of the case the purchase of...

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