Ohio Cat Tax Changes 2024. The annual exclusion amount is increased to $3 million. The commercial activity tax (cat) is an annual tax imposed on the privilege of doing business in ohio, measured by gross receipts from business activities.
Ohio cat changes require due diligence for 2024 cat exclusion amounts and filing frequency changes. The following is a list of important changes, and some may require action for businesses subject to the cat.
For 2024, Businesses With $3 Million Or Less Of.
For tax periods starting in 2024, all taxable gross receipts of $3 million or less will be exempt from cat.
On July 3, 2023, Governor Mike Dewine Signed Hb 33, Ohio's Biennial Budget Legislation For The Fiscal Period July 1, 2023 Through June 30, 2025.
This move is geared towards.
Cat Changes Effective January 1, 2024.
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House Bill 33 Enacted The First Major Changes To The Commercial Activity Tax (Cat) Exemption Amounts Since Its Inception In 2005.
The ohio department of taxation recently announced changes to cat, which modify the cat filing requirements and thresholds, potentially reducing the tax burden for smaller.
For Tax Year 2024, A Person With Taxable Gross Receipts Of More Than $3 Million Per Calendar Year Is Subject To The Cat.
This exclusion will increase $6 million or less for tax periods.
For Tax Periods Starting In 2024, All Taxable Gross Receipts Of $3 Million Or Less Will Be Exempt From Cat.