Good news for those with less than $3,000,000 in Ohio Gross Receipts!
If your business currently files an annual OH Commercial Activity Tax return and will have less than $3,000,000 of Ohio Gross Receipts for 2023, your last annual OH CAT return will be due on May 10, 2024. Even more exciting, if your business anticipates not having $3,000,000 or more of Ohio Gross Receipts for 2024, your CAT account should be cancelled as of 12/31/2023! The linked Ohio Information release summarizes how recent law changes increase the filing threshold, eliminate the minimum tax, and make all remaining filers quarterly filers as of 1/1/2024. Instructions for how to cancel a CAT account as of 12/31/2023 are also included.
Please contact VL’s SALT group if you have questions about how this impacts your business: Robin Teeters rteeters@vlcpa.com or Joe Lenzer jlenzer@vlcpa.com .
