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PPP Loans & Ohio Commercial Activity Tax

6/29/20 – Robin Teeters

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Ohio has recently updated its FAQs in regard to the inclusion of PPP loans in Ohio Gross Receipts for the purpose of calculating the Ohio Commercial Activity Tax.

FAQs

Are Paycheck Protection Program loans subject to the Commercial Activity Tax (CAT)?

The Coronavirus Aid, Relief, and Economic Security (CARES) Act recently passed by Congress provides federal assistance to small businesses, including forgivable Paycheck Protection Program (PPP) loans. The amount of a PPP loan and any amount of the loan that is forgiven under the CARES Act is excluded from a taxpayer’s gross receipts for purposes of the CAT.

For more details visit the Ohio Department of Taxation's page on COVID-19 Tax Relief. There has been no change in due dates for the filing of CAT returns. Those due dates can be found on the Ohio Department of Taxation's page on CAT Filing Due Dates.

If you find yourself needing assistance with due dates or any SALT related services during this hectic time, please contact Robin Teeters, of VonLehman’s specialized SALT team at rteeters@vlcpa.com or 800.887.0437.