Tax Talk
February 17, 2017
Welcome to TaxTalk–a video series where Buckingham Partners Steven A. Dimengo and Richard B. Fry discuss hot topics, new developments and tax law you need to know. Click the link above to watch a short video as Buckingham Partner Steven A. Dimengo explains why he loves what he does.
Crain’s Cleveland – Ohio tax changes on the horizon, sales tax to become even more significant. Is your business maximizing available exemptions and incentives?
February 14, 2017
Buckingham attorneys Steven A. Dimengo and Richard B. Fry III explain Ohio tax changes on the horizon with sales tax to become even more significant. Gov. Kasich’s quest to lower the Ohio personal income tax rate continues in his latest proposed biennium budget, even in the face of Ohio’s tax revenue falling short of estimates. If… Read More
Ohio Commercial Activity Tax Bright-line Nexus Constitutional-What to do now?
February 8, 2017
The Ohio Supreme Court recently held that the bright-line presence nexus standard for Ohio Commercial Activity Tax (“CAT”) does not violate the U.S. Constitution. Many taxpayers have pending audits or appeals at the Board of Tax Appeals regarding this nexus issue. What should these and other CAT taxpayers do now? First, it is expected the… Read More
Ohio Sales and Use Tax: Recent Board of Tax Appeals Decisions Highlight the Importance of Fully and Effectively Challenging Tax Commissioner Determinations
January 31, 2017
Following up on our Sales and Use Tax Subcommittee Report, there are quite a few cases of note decided by the Ohio Board of Tax Appeals. An unfortunate overriding theme in these recent decisions is that each taxpayer lost due to one of the following: insufficient evidence in support of appeal; the decision was consistent… Read More
Ohio State Bar Association: Sales and Use Tax Subcommittee Report
January 26, 2017
As co-chairs of the Ohio State Bar Association Sales / Use Tax Subcommittee, click here to view the report Steve and Rich presented at the January 19, 2017 Taxation Committee meeting. As you will notice, many of the Ohio sales / use tax cases recently decided by the Board of Tax Appeals were based upon a lack of proof by the taxpayer. It… Read More
Ohio Income Tax: Dividends from accumulated C corporation earnings retain their character and are non-taxable to nonresident shareholders.
January 4, 2017
The Ohio Supreme Court encountered a relatively unique situation in Giddens v. Testa, 2016-Ohio-8412. The two shareholders of Redneck, Inc., who resided in Missouri, received large dividends in 2008, at which time Redneck was taxed as an S corporation. However, the taxpayers showed the dividends were Redneck’s earnings and profits from when the corporation was… Read More