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CD of Live 100-Minute Telephone Conference Conducted on April 12, 2006
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Anyone doing business in Ohio is dealing with the challenges of its new commercial activity tax, or CAT, which has replaced both the corporate franchise tax and personal property tax.
The state has already revised its guidance several times – making it difficult for your tax department to stay knowledgeable and current and increasing your risk of additional tax assessment for not interpreting the rules properly.
Even functions that are routine in any other state are for now uncharted territory in Ohio. How will Ohio handle combined returns? Will the Taxation Department handle audit samples differently with the commercial activity tax? How do you report revenue from sales of business assets or calculate exclusions for other state taxes?
Listen as our panel of veteran corporate tax leaders and savvy advisors who are intimately familiar with Ohio tax law and dealing with its revenue agency clarify the murky waters of the commercial activity tax.
Thomas Zaino, Shareholder and Chair of the Multistate Tax Practice Group, McDonald Hopkins, Columbus. He is a former commissioner of the Ohio Department of Taxation where he guided the development of Ohio’s tax policy through state and federal legislative efforts.
Robert J. Kushman, Managing Director, State and Local Tax Services, RSM McGladrey, Cleveland, works with a national team of tax specialists to provide tax advisory and advocacy services to clients. He has more than 30 years of experience in state and local taxation.
David Cook, Director, State & Local Taxes, PricewaterhouseCoopers, Cleveland, specializes in multi-state strategic income and franchise tax planning and restructuring. He also has significant experience with merger and acquisition planning, audit and appeal resolution, and property tax services.
David Adler, Director, Multistate Tax Services, Deloitte & Touche, Columbus. He serves as the firm’s Ohio State Tax Desk leader where he is responsible for Ohio tax matters and serving as a firm national technical resource on Ohio taxation.
They help prepare you for filing your first Ohio annual return for the new tax and tell you what to expect about:
- How tough the state will be in its early commercial activity tax audits.
- How to determine what share of your company’s nationwide gross revenue should be apportioned to Ohio for taxation, based on the state’s still evolving benefits ratio.
- Which guidance statements are now firm enough for your company to act upon – and which remain too vague for you to make confident business decisions.
- The payoff from tax planning strategies, such as pushing for an alternative apportionment approach that minimize’s your company’s Ohio tax bill.
- How the state will determine "substantial nexus" for the CAT compared with the former franchise tax.
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TELECONFERENCE CD
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