August 8, 2018
By KIMBERLY BONVISSUTO, FOR CRAIN CONTENT STUDIO-CLEVELAND
Ohio is a very complex state, in terms of state and local taxation laws, due to its multiple state taxes and sheer number of local taxing jurisdictions.
In an effort to help tax professionals sort it all out, the 6th annual Ohio State and Local Tax (SALT) Conference recently provided a “one-stop shop” for breaking down core Ohio, local, and multistate taxation topics. This premier state and local tax conference is offered by the University of Akron’s George W. Daverio School of Accountancy and Buckingham, Doolittle & Burroughs LLC as an outreach activity of the university’s Master of Taxation program.
Ohio Tax Commissioner Joe Testa, making his second appearance as keynote speaker at the conference, presented a municipal net profit tax update, discussing the state’s initiative over the past two years to implement reforms that provide more uniformity for Ohio businesses.
Ohio has more than 600 cities and villages that levy almost $5 million annually in municipal income taxes through individual income, employer withholding and business net profit taxes. The state’s reform allows businesses to “opt-in” to having the state administer the municipal net profit tax rather than going through the multiple municipalities where they conduct business… [full story]
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