Ohio DOT Proposes to Amend Commercial Activity Excise Tax Regulations

The Ohio Department of Taxation Jan. 1 proposed regulations to amend the rules on the commercial activity excise tax. The proposal includes measures to update provisions on: 1) the option for quarterly taxpayers to make estimated payments to conform the rule to the statutory language, eliminate outdated provisions, and update examples; 2) pre-income tax trusts with revised statutory citations and due dates; 3) application of common owners and joint ventures to provide a standard for retroactive consolidation and other clarifications; and 4) changes in ownership to allow taxpayers to notify the commissioner on either the DOT’s website or the state ...