Coolidge Wall Co., L.P.A.
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February 2017 Archives

Developments in Ohio Tax Law

At first glance, the distinction between "business income" and "nonbusiness" income appears unequivocal. Recent case law followed by an ambiguous technical memorandum, however, created uncertainty among the legal and accounting communities. The distinction is crucial, as the maximum Ohio tax rate for business income is 3% whereas the nonbusiness income tax rate is capped at 4.997%.[1]