The State of Ohio is looking for additional tax dollars, and they’re not going to give you the benefit of the doubt if your business is audited for use tax. But you may be able to avoid a use tax audit if you qualify for a one-time opportunity to enter into the State of Ohio’s amnesty program. (more…)
Posts Tagged ‘Ohio Use Tax Amnesty Program’
Commonly Overlooked Ohio Use Tax Liabilities
For the last year, we’ve been telling you about the State of Ohio’s efforts to step up enforcement of its use tax law. Use tax can be thought of as a companion tax to sales tax. In many cases, if you didn’t pay Ohio sales tax, chances are you will owe Ohio use tax. (more…)
Actually, there are two types of Ohio tax amnesty running right now:
- Ohio General Tax Amnesty
- Ohio Consumer’s Use Tax Amnesty (more…)
Ohio’s newest tax amnesty program, General Tax Amnesty, starts today. General Tax Amnesty gives taxpayers amnesty for previously underreported or unreported taxes (but it is not available for reported but unpaid taxes). General Tax Amnesty is available for most, but not all, types of Ohio taxes. A list of the types of taxes which qualify for amnesty can be found in my previous blog post about the topic. (more…)
Ohio’s General Tax Amnesty program kicks off tomorrow, but a lot of individuals and businesses don’t know how to participate in it. That’s a shame, because it’s been 3 years since the last general amnesty for businesses and 6 years since the last amnesty for individual taxpayers. (more…)
Over the last year, you’ve heard a lot about Ohio’s Use Tax Education program, which has since become the Use Tax Amnesty program. Use tax is tax that is owed on goods and purchases for which sales tax should have been charged, but wasn’t. It’s a great program, assisting Ohio taxpayers in getting current with their Ohio use tax liabilities and waiving penalties and interest. Ohio’s got another tax amnesty program, General Tax Amnesty (which includes sales tax) starting this week – which makes this a good time to mention a darker side to the Use Tax Amnesty program and how it could impact vendors. (more…)
Ohio’s Use Tax Amnesty Program has been big news. We’ve been happy to help businesses across Ohio take advantage of the Use Tax Amnesty Program, perhaps the most business-friendly tax program in Ohio’s history. Businesses have been able to take care of outstanding use tax liabilities, open a use tax account, and start themselves off with a clean slate with the Ohio Department of Taxation. (more…)
Everyone’s heard of sales tax. That extra 7-ish percent that you pay on all of your purchases that goes to the State of Ohio. But many consumers haven’t heard of use tax. An accompaniment to sales tax, use tax is a tax on the goods and services that you should have had to pay sales tax on, but didn’t. Confused? (more…)
The requirements for participating in the State of Ohio’s use tax amnesty program’s payment program just got a little easier. (more…)
Now that you have filed for use tax amnesty and are all set up with an account, how are you going to track it daily going forward? If you use QuickBooks, the answer is as simple as 1-2-3. (more…)
If 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. (more…)
By 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. (more…)
A 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. (more…)
Rea & 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:
- 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
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
As 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. (more…)