Sep 13, 2024, 00:00 AM
by
Jessica Salerno Shumaker
Newly updated revenue forecasts for FY25 were close to the mark in August, with tax collections netting about half a percent more than expected, according to the OBM.
State tax collections reached $2.1 billion in July, the first month of FY25, according to preliminary figures released Thursday by the Office of Budget and Management.
his group will provide feedback and participate in testing. On-site system testing is planned for the last few weeks of September, with multiple dates and times available.
August 1st is already in the rearview mirror, and members may not have noticed any changes when utilizing their OH/ID logins for the Ohio Business Gateway.
The proposed amendment says the state or local governments "shall not have the right or power to increase the taxable property value on any citizen's private property or properties," without the private property owner's agreement or consent.
Jul 25, 2024, 00:00 AM
by
Jessica Salerno Shumaker
Real estate investors and CPAs should understand the benefits of cost segregation studies to leverage IRS guidelines and maximize depreciation deductions.
Jul 19, 2024, 00:00 AM
by
Jessica Salerno Shumaker
Ohio was recently ranked fifth-highest among states for taxpayer return on investment by personal finance site WalletHub, leading all neighboring states.
Jul 17, 2024, 00:00 AM
by
Jessica Salerno Shumaker
Last summer, the Ohio Department of Taxation launched Project NextGEN to replace the current systems that administer Ohio’s individual and school district income taxes. The new system is scheduled to go-live on Sept. 5, 2023, and will provide a “banking experience” for taxpayers and tax professionals.
The Ohio Department of Development (DOD) recently announced the release of the program application for the July 2024 round of the Ohio Opportunity Zones Tax Credit.