Municipal income tax reform discussions again drew a vocal crowd, as Wednesday's meeting in Bowling Green was filled with municipal representatives, CPAs and members of the business community. The meeting follows similar gatherings in the Cincinnati suburb of Sharonville and Cleveland in August and September.
Representatives from R.I.T.A., CCA and various individual municipalities gathered along with business owners to express their concerns about hot button issues. Six OSCPA members attended, representing both municipalities and small business interests.
Much of the discussion centered on:
- Uniform treatment of NOL carry forwards
- Extending the 12-day occasional entry rule to 30
- Defining what constitutes a day.
Municipality leaders continued to express concerns over lost revenue if changes to the big issues occur, specifically increasing the 12 days to 30, citing “tax avoidance” numerous times as a reason to keep the 12-day rule intact.
The Municipal Income Tax Uniformity Coalition, led by OSCPA, continues to be engaged in discussions with interested parties to push for uniform definitions of taxable income, withholding, and rules and regulations that will make Ohio a better place to do business.
"Municipal income tax is a source of great frustration for tax payers,” said Adam Garn, J.D., CPA. “Individuals and companies are asked to comply with complex laws, which can lead to more time and more fees when it comes to actual return preparation - especially for companies with employees in multiple jurisdictions.”
Garn and Stephen Hall, J.D., LL.M. both with the multistate tax practice group of McDonald Hopkins Co., LLC, will lead the Municipal Income Tax Update session at the Cleveland Accounting Show, Oct. 24-25. They will help break through the frustration and save you and your clients' time as they explain the revised codes, ordinance changes, and case laws for municipalities and the taxes they impose.
OSCPA legislative staff Barb Benton and Amy Mignogna will also present a legislative update on Oct. 24, including efforts to reform municipal income tax. Visit OSCPA's webpage on municipal income tax reform for more information on how you can help drive needed reform.