Ohio’s sales/use tax rate on purchases of taxable property and services can be quite significant, ranging from 5.75% to 7.75%. Are you taking advantage of the following broad exemptions?
- Leased employees provided for an indefinite period under the appropriately worded contract.
- Manufacturing exemption and its expansive rules with respect to the beginning and end of production.
- Packaging exemption available to retailers and manufacturers for purchases of materials and equipment, both of which can be quite expensive.
- Research and development property that has been capitalized.
- The resale exemption for acquired property that is merely temporarily conveyed to another entity to support your business.
- The transportation for hire exemption available for costs associated with transportation property used to carry property of another person (includes a related entity).
We can help you take full advantage of these exemptions and others.