Once-in-a-Lifetime Tax Incentive: Employee Retention Credit extended to Q3 and Q4 2021, and expanded for start-ups and struggling businesses.
August 23, 2021
On August 4, 2021, the IRS released additional guidance concerning the Employee Retention Credit (ERC) for Q3 and Q4 2021. See IRS Notice 2021-49. A notable expansion to eligible businesses includes any business started after February 15, 2020. Further, any employer experiencing a significant decline in quarterly gross receipts for Q1 to Q3 2021 will… Read More
Ohio’s Budget Bill tax changes aim to increase Ohio investment and reduce burdens on recovering businesses
July 20, 2021
Ohio’s Biennial Budget Bill (Am. Sub. H.B. 110) was signed into law by Governor DeWine on June 30, 2021. The bipartisan bill boasts substantial measures to boost school and scholarship funding, create incentives for investing in Ohio, provide relief to businesses hit hard by COVID-19, and even allow college student-athletes to benefit from their own… Read More
Ohio Sales / Use Tax: Who controls your trash? Critical contractual distinction determines tax exemption for waste haulers, creating potential refund opportunities.
July 13, 2021
The Ohio Supreme Court recently ruled that a waste-hauler was entitled to Ohio’s transportation-for-hire exemption from sales / use tax on trucks used to haul trash to customer-designated locations. In N.A.T. Transportation, Inc. v. McClain, the Court determined the waste had not been abandoned, distinguishing from a previous case, since these customers controlled the destination… Read More
Out-of-State Remote Workers may Create Substantial Nexus as COVID-19 Protections Expire
July 8, 2021
In response to the COVID-19 pandemic, as work-from-home became the norm, many states provided safe harbors such that remote workers teleworking in the state would not create nexus for corporate income tax and sales / use tax purposes. Thus, businesses with teleworking employees were not burdened with additional state tax obligations during the pandemic. Now… Read More