The Ohio Department of Taxation on Dec. 19 announced it is seeking comments on proposed changes to the Financial Institutions Tax rules.
That was followed a day later by a request for comments on rule changes for the Commercial Activity Tax.
Set aside your hot cocoa, because comments are due Jan. 2 on the following:
|Rule Number||Rule Title||Proposed Change|
|Financial Institutions Tax||5703-33-01||Electronic filing of annual or estimated tax reports and tax payments||Updated citation to Revised Code to refer to correct R.C. section where OBG is defined, correct “website” and correct web address|
|5703-33-03||Notification of change in ownership or applicability of chapter||Updated to indicate that account changes may be made via the Ohio business gateway and updated form name and form revision dates|
|5703-33-05||Reporting of total equity capital||Updated to provide guidance on law changes from Am.Sub.H.B. 166 (limitation to total equity capital based on 14% of total assets)|
|Commercial Activity Tax||5703-29-02||Application of common owners and joint ventures||Updated to provide standard for retroactive consolidation and other clarifications|
|5703-29-19||Changes in ownership||Updated to reference Ohio business gateway and delete outdated language|