Wednesday, May 30, 2007

Ohio pre-income tax trust regulations

Ohio has finalized its commercial activity tax regulation regarding pre-income tax trusts (OAC 5703-29-21).

The regulation defines pre-income tax trusts and qualified pre-income tax trusts, explaining the timelines and procedures for revoking a trust’s election, and registering to become a CAT taxpayer. (See Information Release 2007-02).

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