The Tax Exchange - August 2017
Recently, the Ohio Board of Tax Appeals issued a decision addressing the situsing of sales under the state’s Commercial Activity Tax (CAT). In Greenscapes Home and Garden Products, Inc. v. Testa, the board found that an “ultimate destination” test is the key inquiry in determining whether sales of tangible personal property should be sitused to the state.
There are substantial tax differences between a redemption (a partner is redeemed out by the partnership) and a sale of a partnership interest.
On July 28, 2017, the Senate voted against a Republican health care bill known as the Health Care Freedom Act. The Health Care Freedom Act was the Republican’s latest draft of legislation to modify the Affordable Care Act (ACA).