November, 2023
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Changes Coming to Ohio Commercial Activity Tax
If you pay the Ohio Commercial Activity Tax (CAT) you know how simplistic it is. Determine your Ohio gross receipts, pay the minimum tax and if your receipts exceed $1,000,000 the tax is 0.26% on the excess. Regardless of how simple the tax is or how little you might have paid, it’s still an administrative […]
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Commercial Clean Vehicle Tax Credit
It’s been over a year since the Biden Administration’s Inflation Reduction Act was enacted, and we’re starting to see some of the programs starting to take shape. One of the programs that could impact the transportation industry is the Commercial Clean Vehicle Credit under IRC 45W. This is a credit where businesses and tax-exempt organizations […]
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IRS Announces ERC Claim Withdrawal Process
We’ve written about the Employee Retention Credit (ERC) quite a bit over the last two years, trying to coach companies to take a hard look at whether or not they truly qualify for the credit. With the IRS putting a moratorium on processing new ERC claims through at least December 31, it highlighted that potentially […]