We provide specialized state and local tax consulting services to small, midsized and large businesses, many of which already have well established and trusted tax advisory relationships. Our consulting services do not conflict with the existing relationships. Instead, we act as an additional resource to provide specialized expertise.
We have deep technical expertise and experience with minimizing the following state and local taxes:
Ohio imposes a state level sales tax, while each Ohio County (88 total) also levies an additional and separate sales tax. Furthermore, 45 states and the District of Columbia impose a sales tax, with approximately 32,000 different rates, across 7,000 different tax jurisdictions (e.g. state, county, city, etc.). Due to these complexities, collection, remittance and overall compliance can be overwhelming.
Ohio also taxes many services, and provides numerous exemptions and exclusions that are not commonly known to many business owners or tax professionals. Because we specialize in sales and use taxes, we can help you manage the compliance burden while minimizing your overall liability.
Below is a summary of the services we can provide to assist with your sales and use tax needs.
In 2005 Ohio implemented its most significant tax reform in over 40 years. As part of the tax reform, Ohio introduced the low-rate, broad-based Commercial Activity Tax (CAT) on business gross receipts. We have followed the CAT from the time it was introduced into the Ohio legislature, up through its current implementation. We have a thorough understanding of the law and the Department of Taxation’s guidance, policy and audit techniques.
Whether you are an Ohio based company, or an out of state business, we can help you understand the CAT and assist with reducing your liability with a variety of services, including:
There are over 500 municipalities in Ohio that impose an income tax on most business entities and/or business owners. Businesses that operate in multiple cities and states face an increasingly difficult burden to comply with complex and constantly changing laws and regulations.
We can assist your business in complying with these tax laws and regulations, while minimizing your overall tax liability through the following services:
There is significant competition among state and local communities to attract and retain businesses and jobs. This competition has created a significant increase in business tax credits and incentives. Many credits and incentives can only be obtained through negotiated offers, while other credits and incentives are statutorily available (negotiation is not required).
We can help your company identify, quantify and negotiate the most favorable credits and incentives package possible. We can also help you ensure that you are maximizing the benefit available from statutory credits and incentives.
In addition to reviewing state tax returns for tax credit opportunities that may still be available, we can help identify, negotiate and secure incentives related to:
Buried in the cost of fuel are various federal and state taxes. Our firm has a deep technical knowledge and understanding of these tax laws, including those that provide various exemptions and allowances which are often overlooked. JPM can help identify opportunities to recoup refunds of prior year tax payments and also minimize tax liabilities in the future.