{"id":12770,"date":"2023-12-13T19:58:59","date_gmt":"2023-12-13T19:58:59","guid":{"rendered":"https:\/\/taxops.com\/?p=12770"},"modified":"2023-12-14T18:26:13","modified_gmt":"2023-12-14T18:26:13","slug":"grassroots-advocacy-aims-for-businesses-in-reforming-state-and-local-tax-2","status":"publish","type":"post","link":"https:\/\/taxops.com\/grassroots-advocacy-aims-for-businesses-in-reforming-state-and-local-tax-2\/","title":{"rendered":"Ohio CAT Action Required"},"content":{"rendered":"\n<figure class=\"wp-block-image size-large\"><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/taxops.com\/wp-content\/uploads\/2023\/12\/Ohio-CAT-Cancellation-policies-1-1024x576.png\" alt=\"\" class=\"wp-image-12774 lazyload\" data-srcset=\"https:\/\/taxops.com\/wp-content\/uploads\/2023\/12\/Ohio-CAT-Cancellation-policies-1-980x551.png 980w, https:\/\/taxops.com\/wp-content\/uploads\/2023\/12\/Ohio-CAT-Cancellation-policies-1-480x270.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><noscript><img decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/taxops.com\/wp-content\/uploads\/2023\/12\/Ohio-CAT-Cancellation-policies-1-1024x576.png\" alt=\"\" class=\"wp-image-12774 lazyload\" srcset=\"https:\/\/taxops.com\/wp-content\/uploads\/2023\/12\/Ohio-CAT-Cancellation-policies-1-980x551.png 980w, https:\/\/taxops.com\/wp-content\/uploads\/2023\/12\/Ohio-CAT-Cancellation-policies-1-480x270.png 480w\" sizes=\"(min-width: 0px) and (max-width: 480px) 480px, (min-width: 481px) and (max-width: 980px) 980px, (min-width: 981px) 1024px, 100vw\" \/><\/noscript><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><\/p>\n\n\n\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p class=\"wp-block-paragraph\"><em>If a business anticipates continuing to have less than $3 million in taxable gross receipts in tax year 2024, Ohio DOT recommends <strong>cancelling the CAT account immediately with an<\/strong> <strong>effective date of Dec. 31, 2023<\/strong>.\u00a0<\/em><\/p>\n<\/blockquote>\n\n\n\n<p class=\"wp-block-paragraph\">The Ohio Department of Taxation (DOT) issued the following important changes to the Commercial Activity Tax (CAT). Beginning Jan. 1, 2024, the following changes apply.<\/p>\n\n\n\n<ul class=\"wp-block-list\">\n<li>The CAT annual minimum tax is eliminated<\/li>\n\n\n\n<li>The exclusion amount is increased from $1 million to $3 million.<\/li>\n\n\n\n<li>Annual filing is eliminated after the 2023 annual return, which is due May 10, 2024.<\/li>\n\n\n\n<li>Taxpayers with taxable gross receipts of $3 million or less per calendar year will no longer be subject to the CAT in 2024.<\/li>\n<\/ul>\n\n\n\n<h3 class=\"wp-block-heading\">Impact on Businesses<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If a business anticipates continuing to have less than $3 million in taxable gross receipts in tax year 2024, Ohio DOT recommends <em><strong>cancelling the CAT account immediately with an<\/strong><\/em> <em><strong>effective date of Dec. 31, 2023<\/strong><\/em>.\u00a0<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">*Please note, you must still file your last annual return for tax year 2023, which is due <strong>May 10, 2024.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Cancelling CAT Account<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">If you\u2019d like to cancel your CAT account, please visit the Ohio Business Gateway at <a href=\"https:\/\/ohio.us11.list-manage.com\/track\/click?u=e647c07bb381bb374d3ac9af2&amp;id=c6f24d7e41&amp;e=b59e9926b2\">gateway.ohio.gov<\/a>. and <strong>follow the instructions below.<\/strong><\/p>\n\n\n\n<h3 class=\"wp-block-heading\">Takeaway<\/h3>\n\n\n\n<p class=\"wp-block-paragraph\">All registered CAT taxpayers with active accounts are required to file returns, even if they do not meet the taxable gross receipts threshold.\u00a0Businesses that do not cancel their CAT account will be transitioned to a quarterly taxpayer effective January 1, 2024, and will need to begin filing quarterly CAT returns to avoid delinquency notices and assessments.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">We are here to help. Reach out if you have questions, concerns or need assistance cancelling your CAT account. Additional assistance is available by contacting the Ohio DOT Business Tax Division at (888) 722-8829 or (800) 750-0750 for persons who use text telephones (TTYs) or adaptive telephone equipment.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\"><img class=\"lazyload\" decoding=\"async\" src=\"data:image\/gif;base64,R0lGODlhAQABAIAAAAAAAP\/\/\/yH5BAEAAAAALAAAAAABAAEAAAIBRAA7\" data-src=\"https:\/\/mcusercontent.com\/e647c07bb381bb374d3ac9af2\/images\/3895b4de-5a0b-5ee3-4105-ff7409790858.png\"><noscript><img class=\"lazyload\" decoding=\"async\" src=\"https:\/\/mcusercontent.com\/e647c07bb381bb374d3ac9af2\/images\/3895b4de-5a0b-5ee3-4105-ff7409790858.png\"><\/noscript><\/p>\n\n\n\n<div style=\"height:54px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Let&#8217;s Talk Tax<\/h3>\n\n\n\n<div style=\"height:73px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-buttons is-layout-flex wp-block-buttons-is-layout-flex\">\n<div class=\"wp-block-button\"><a class=\"wp-block-button__link wp-element-button\" href=\"https:\/\/taxops.com\/contact\/\" target=\"_blank\" rel=\"noreferrer noopener\">Book Time with a TaxOps Advisor<\/a><\/div>\n<\/div>\n\n\n\n<div style=\"height:73px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">More Tax News<\/h3>\n\n\n<ul class=\"wp-block-latest-posts__list wp-block-latest-posts\"><li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/auditor-independence-in-the-age-of-private-equity\/\">Auditor Independence in the Age of Private Equity: What CFOs Need to Know<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/r-d-credits-for-software-companies\/\">R&amp;D Credits for Software Companies: Scrum Teams, Qualifiers, and Section 174 After OBBBA<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/section-174-decoupling-what-tax-pros-need-to-know-state-by-state\/\">Section 174 Decoupling: What Tax Pros Need To Know State By State<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/sean-espy-new-partner\/\">TaxOps Welcomes Sean Espy as Partner, Tax Minimization<\/a><\/li>\n<li><a class=\"wp-block-latest-posts__post-title\" href=\"https:\/\/taxops.com\/state-nexus-demystified-navigating-tax-compliance-after-wayfair-episode-1-2\/\">Your Tax Footprint Is Probably Bigger Than You Think: What Finance Leaders Need to Know About State Nexus<\/a><\/li>\n<\/ul>\n\n\n<div style=\"height:73px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>If a business anticipates continuing to have less than $3 million in taxable gross receipts in tax year 2024, Ohio DOT recommends cancelling the CAT account immediately with an effective date of Dec. 31, 2023.\u00a0 The Ohio Department of Taxation (DOT) issued the following important changes to the Commercial Activity Tax (CAT). Beginning Jan. 1, [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":12774,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","spt_transcript":"","footnotes":""},"categories":[229,226],"tags":[252,388,284,994,1050,126,796,471,1090,36,44,1053,18,19,1051,1081,30,101,601,38,214,1091,168,139],"class_list":["post-12770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-state-and-local","category-tax-news","tag-accountant","tag-accounting-professionals","tag-cfo","tag-controller","tag-cp","tag-cpa","tag-exemption-certificates","tag-finance-professionals","tag-financial-savings","tag-income-tax","tag-property-tax","tag-risk-reduction","tag-sales-and-use-tax","tag-sales-tax","tag-sales-tax-exemptions","tag-sales-tax-management","tag-state-and-local-tax","tag-state-tax","tag-tax-administrations","tag-tax-compliance","tag-taxability","tag-taxation-tips","tag-use-tax","tag-voluntary-disclosure"],"aioseo_notices":[],"jetpack_featured_media_url":"https:\/\/taxops.com\/wp-content\/uploads\/2023\/12\/Ohio-CAT-Cancellation-policies-1.png","_links":{"self":[{"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/posts\/12770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/comments?post=12770"}],"version-history":[{"count":3,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/posts\/12770\/revisions"}],"predecessor-version":[{"id":12775,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/posts\/12770\/revisions\/12775"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/media\/12774"}],"wp:attachment":[{"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/media?parent=12770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/categories?post=12770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/taxops.com\/wp-json\/wp\/v2\/tags?post=12770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}