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02/21/2019
New State-Wide Centralized Filing for Ohio Municipal Net Profit Tax
Ohio’s budget bill for fiscal years 2018 and 2019 provides a new statewide centralized filing and collection process for municipal net profit tax returns for many businesses starting with the 2018 tax year. Under this new centralized collection process, the Ohio Department of Taxation (“Department”) will be responsible for all administrative functions of municipal net profit tax returns, including assessments, audits, and appeals.
1. A single return can be filed for all municipalities through the Department’s online portal, the Ohio Business Gateway.
2. If eligible taxpayers wish to use the centralized collection methodology, they must opt in to the program by making an election by the first day of the third month of their taxable year, March 1, 2019, for calendar year taxpayers, for all municipalities in which they have a filing obligation; the election remains valid until it is revoked by the taxpayer.
3. Taxpayers electing the centralized collection methodology must register and notify each municipality in which they were doing business during the tax year prior to the year for which the election is made.
4. Eligible taxpayers do not include sole proprietors and entities that are disregarded for federal income tax purposes, including single-member limited liability companies, qualifying subchapter S subsidiaries, or any other entity that is a disregarded entity for federal income tax purposes.
5. Pursuant to the centralized collection methodology, annual returns and declarations of estimated tax must be filed electronically using the Ohio Business Gateway.
Contact
Corey Rosenthal, Practice Leader, State & Local Tax Services
corey.rosenthal@cohnreznick.com
(646) 625-5729
Annie Yang, Manager, National Tax-SALT
(646) 601-7884
Subject matter expertise
Corey Rosenthal
JD, Principal, Practice Leader, State and Local Tax (SALT) Services
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Any advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues. Nor is it sufficient to avoid tax-related penalties. This has been prepared for information purposes and general guidance only and does not constitute legal or professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice specific to, among other things, your individual facts, circumstances and jurisdiction. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its partners, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.