Name: Chad Bice, CPA, principal
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Posts by Chad Bice, CPA, principal:
- Shortening the statute of limitations
- Shortening the look-back period for amnesty participants
- Abating all penalties and interest for amnesty participants
- Providing a payment plan for those who cannot pay the entire use tax due
Selling Your Business? Moving Out of State Won’t Save Taxes
January 20th, 2012If you’re considering selling your closely-held business, moving out of state may have crossed your mind as a way to avoid paying Ohio personal income tax on your gains. You might be surprised to learn that simply residing outside the State of Ohio won’t protect you from paying Ohio personal income tax on gains from selling your debt or equity in your business. Read the rest of this entry “
Sooner Rather Than Later? Why You Should Do Ohio Use Tax Amnesty Now
December 19th, 2011For the past several months, we’ve told you about Ohio’s use tax amnesty program. You may have read that the program will continue through April 1, 2013. So why should you participate in the amnesty program now rather than later? Here are four reasons. Read the rest of this entry “
Ready for a Walk Through Ohio’s Use Tax Amnesty Process?
November 28th, 2011If you owe use tax, you currently have an opportunity to save thousands of dollars in use tax, interest and penalties thanks to Ohio’s use tax amnesty program. The program is one of the most taxpayer-friendly programs ever enacted by the State of Ohio. Read the rest of this entry “
Guarantor Requirementsfor Ohio Use Tax Payment Plan Changed
November 17th, 2011The requirements for participating in the State of Ohio’s use tax amnesty program’s payment program just got a little easier. Read the rest of this entry “
How Can I Apply for Ohio’s Use Tax Amnesty Program?
September 6th, 2011By now you may have heard that the Ohio Department of Taxation has changed the process for businesses and individuals to voluntarily come forward to declare use tax they owe. A voluntary disclosure program that started earlier this year was suspended when the Ohio legislature approved a new Use Tax Amnesty Program as part of the biennial budget bill. Read the rest of this entry “
Understand Ohio’s New Use Tax Amnesty Program?
August 31st, 2011A new use tax amnesty program in Ohio will provide businesses with a one-time opportunity to save thousands of dollars in use tax, interest and penalties. This program was established by the Ohio legislature as part of Ohio’s biennial budget bill that passed in early July 2011. Ohio’s amnesty program is one of the most taxpayer-friendly programs ever enacted by the State of Ohio. Read the rest of this entry “
Heard about Ohio’s Use Tax Amnesty Program? Learn More at Our Webinar
August 23rd, 2011Rea & Associates, Inc. will host a webinar detailing Ohio’s use tax amnesty program on Thursday, September 8. The webinar will provide details on what the amnesty program does, how it will work and what steps businesses should take to participate.
What is the Ohio Use Tax Amnesty Program?
The Ohio legislature established Ohio’s use tax amnesty program as part of Ohio’s biennial budget bill that passed in early July 2011. It is an improved version of the voluntary disclosure agreement program (VDA) that has existed for some time. Among other things, the new law eliminates several years of unpaid use tax liabilities for over 300,000 Ohio businesses, by:
We will provide details about what to do if your business enrolled in the use tax voluntary disclosure program earlier this year. The VDA program is still open for taxpayers who don’t qualify for amnesty. However, guidance from Ohio indicates that all taxpayers qualifying for the amnesty program will need to use this new amnesty program, even if they have a VDA in process.
Ohio’s use tax amnesty program will operate October 1, 2011 through May 1, 2013, and applies to businesses that have not been issued a formal assessment as of early July 2011. We’ll walk webinar participants through Ohio’s use tax amnesty enrollment process step-by-step.
The new amnesty program will provide Ohio businesses with a one-time opportunity to save thousands of dollars in use tax, interest and penalties. It is one of the most taxpayer-friendly programs ever enacted by the State of Ohio. As our government looks for additional revenue, it’s certainly possible that this program could change or be eliminated at a later date – so be sure to take advantage of it now while it is in effect.
To learn more or register for the webinar, click here.
Contact Our Ohio Use Tax Professionals
Confused About Ohio’s New Use Tax Amnesty?
July 19th, 2011As we’ve mentioned over the past several weeks, Ohio businesses have a one-time opportunity to save thousands of dollars in use tax, interest and penalties thanks to a new use tax amnesty program. This program was recently established by the Ohio legislature as part of Ohio’s biennial budget bill that passed in early July 2011. Ohio’s amnesty program is one of the most taxpayer-friendly programs ever enacted by the State of Ohio. Read the rest of this entry “
Ohio’s Use Tax Amnesty Program
July 6th, 2011
Are You a Dentist Using Invisalign? Don’t Sign the Certificate
June 29th, 2011Ohio dental practices that received a request to sign and submit a blanket sales tax exemption certificate from Align Technologies, producer of the Invisalign dental product, are advised not to sign the certificate until the Ohio Department of Taxation clarifies the appropriate sales tax treatment of the product. Read the rest of this entry “
