Do You Owe Outstanding Tax Liabilities To The State Of Ohio? If So, You Should Consider The Ohio Tax Amnesty Program.
Who Qualifies For The Ohio Tax Amnesty Program?
The Ohio Tax Amnesty Program is available to certain individuals and businesses that owed an outstanding tax liability to the State of Ohio as of May 1, 2005 , but does not include taxes which have been billed or assessed by the Ohio Department of Taxation or for which an audit by the Ohio Department of Taxation is under way.
What Types Of Taxes Are Covered Under The Ohio Tax Amnesty Program?
The following types of taxes are covered under the Program:
- Corporate Franchise Tax
- Employer/School District Withholding Tax
- Individual Income Tax
- School District Income Tax
- Pass-Through Entity Tax
- Sales/Use Tax
- Personal Property Tax
What Does A Taxpayer Need To Do To Participate
In The Ohio Tax Amnesty Program?
To participate in the Ohio Tax Amnesty Program a taxpayer who qualifies will need to complete an Ohio Tax Amnesty Application, as well as any outstanding tax returns associated with the liability in question. The taxpayer will also be required to remit payment for the full amount of the tax owed and one-half of the interest due on the outstanding liability (the Application contains an interest calculator to allow taxpayers to calculate the amount of interest owed). For qualifying taxpayers, the other half of the interest charge and all penalties associated with the liability will be waived.
The Ohio Tax Amnesty Program is scheduled to run through February 15, 2006 .
For more information on the Program or to receive assistance in completing your Application, please contact attorney Jud B. Sims at (513) 651-6740.