Wed March 27, 2013
Business Tax Amnesty Program Wrapping Up With Mixed Results
Ohio businesses have only about one month more to take advantage of the state’s first-ever tax amnesty program that deals with sales taxes that companies owe.
When businesses buy equipment or other products from out-of-state suppliers, they’re supposed to be charged Ohio’s 5.5% sales tax on their bill….but often, they are NOT. In those cases, the Ohio companies are supposed to pay the tax LATER. Sometimes the tax is NEVER paid….and that’s where the AMNESTY comes in. Until May 1st, if Ohio companies that OWE the sales tax come forward and pay UP, they won’t be charged the usual penalty and interest. Tax Commissioner Joe Testa likes the amnesty program, but, as you can hear in this interview with statehouse correspondent Bill Cohen, Testa doesn’t want to talk about how LITTLE it is raising, compared to how much is really OWED