Ohio ~ Multiple Taxes: Tax Amnesty Program Enacted

Ohio Gov. John R. Kasich signed a budget bill that authorizes a tax amnesty program for certain delinquent state and local taxes, including sales and use taxes, corporate franchise tax, commercial activity tax, estate tax, motor fuel taxes, cigarette taxes, school district income taxes, and tangible personal property taxes. (TAXDAY, 2011/07/05, S.15) The tax amnesty program is set to commence May 1, 2012, and conclude on June 15, 2012, and apply to taxes which were due and payable as of May 1, 2011.

Under the program, taxpayers who pay the full amount of the qualifying delinquent taxes owed and half of any accrued interest will have all applicable penalties and the remaining interest waived or abated. Further, taxpayers participating in the program will not be subject to any criminal prosecution or any civil action with respect to the tax paid.

A separate consumer use tax amnesty program, as well as other sales and use tax provisions (TAXDAY, 2011/07/06, S.42), income tax provisions (TAXDAY, 2011/07/06, S.41), and a repeal of the estate tax (TAXDAY, 2011/07/06, S.40) are reported separately.

H.B. 153. Laws 2011, effective July 1, 2011, applicable as noted

AUTHOR

Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

All stories by: Wolters Kluwer Tax and Accounting