The Tax Exchange - August 2017
The most common mistake resulting in a state tax protest denial is submitting the filing outside the statutory deadline. Whether it is 15, 30, 45 or 90 days, depending on the state, a number of factors can impact a timely filing.
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.