On this edition, Steven Dimengo and Richard Fry of Buckingham Doolittle & Burroughs, LLP discuss principles governing Ohio use taxation and the state tax law's application to business activity in the state. They examine the incidence of use tax reporting delinquency and its potential adverse impact on companies doing business in Ohio, use tax exemptions available to some businesses, and penalties, audits and investigations that can follow taxpayer non-compliance. Copyright© 2010 LexisNexis, a division of Reed Elsevier Inc.
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For additional insight by Steve Dimengo and Richard Fry on Ohio state and multi-state taxation, visit the Ohio State Tax Blog site.
RELATED LINKS: For further discussion of use tax principles and compliance issues, see:
2-16 Bender's State Taxation: Principles and Practice § 16.01 et seq.
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The new Ohio Use Tax program represents a significant shift for businesses in terms of how they need to deal with state tax issues. As discussed in this podcast there is a serious opportunity to avoid issues with the Ohio Department of Revenue is to leverage the Voluntart Disclosure Agreement. Unless your company is well aware of the potential liability which would come from an Ohio Use Tax audit, it is best to take advantage of the voluntary disclosure program.
This is a great resource!