Not a Lexis+ subscriber? Try it out for free.

Tax Law

Maximizing Ohio's Sales/Use Tax Exemptions

Ohio's sales/use tax rate on purchases of taxable property and services can be quite significant, ranging from 5.75% to 7.75%. Are you taking advantage of the following broad exemptions? 

  • Leased employees provided for an indefinite period under the appropriately worded contract.
  • Manufacturing exemption and its expansive rules with respect to the beginning and end of production.
  • Packaging exemption available to retailers and manufacturers for purchases of materials and equipment, both of which can be quite expensive.
  • Research and development property that has been capitalized.
  • The resale exemption for acquired property that is merely temporarily conveyed to another entity to support your business.
  • The transportation for hire exemption available for costs associated with transportation property used to carry property of another person (includes a related entity). 

...

View Steve Dimengo and Richard Fry's insights in their entirety on the Ohio State Tax Blog site.

...

RELATED LINKS: For additional information about state personal income tax credits, see:

Bender's State Taxation: Principles & Practice is also avaiable in print at the LexisNexis® Store.

...

Discover the features and benefits of LexisNexis® Tax Center

For quality Tax & Accounting research resources, visit the LexisNexis® Store