Avoiding Tax Consequences During Oil & Gas Restructurings
As we strive to do annually, here is a summary of the major items of business tax legislation that have been introduced or we expect to be introduced during the 2024 regular session, which began February 6. From a tax and...more
Preparing for significant changes to Ohio commercial activity tax for 2024 – Majority of taxpayers will no longer be subject to CAT following increases in annual exclusions. Ohio’s Budget Bill (H.B. 33) significantly...more
1. EXEMPTIONS - A. Equipment Used in Production of Crude Oil and Natural Gas: Stingray Pressure Pumping, LLC v. Harris, Slip Opinion No. 2023-Ohio-2598. Reversing the BTA, the Court determined five categories of...more
I. EXEMPTIONS - A. Transportation for Hire: Battle Axe Construction v. McClain, Ohio BTA Case No. 2022-559 (October 11, 2022). Exemption denied for truck not used primarily to transport property belonging to others....more
Residents of California often complain about high taxes, but no one pays higher taxes than the cannabis industry. In addition to the Federal 280E penalties, the cannabis industry in California is subject to a 15% state-wide...more
The OSBA Sales/Use Tax Subcommittee Report discusses recent developments concerning the scope of taxable services, as well as the federal preemption of taxation on internet services which were previously taxable in Ohio....more
On June 4, 2021, the Texas Comptroller issued a policy statement (Accession No. 202106003L) announcing that it is not going to enforce its previously stated policy of taxing medical billing services. This guidance comes in...more
Avalara, best known for its comprehensive suite of SaaS-based tax compliance solutions, found itself on the defensive after competitor PTP OneClick filed a lawsuit in October in the U.S. District Court for the Eastern...more