Ohio sales tax
Ohio is a mid western state in the United State, part of the great lakes region. Ohio is a major producer of machines, tires and rubber product, steel, processed foods, tools and other manufactures goods. The Ohio gross state product in 2004 was $419 billion. Per capita personal income in 2003 was $30, 129 and 25th in nation. Ohio\'s industrial outputs are transportation equipment, fabricated metal products, machinery, food processing and electricity equipment. Ohio has 5.5% state sales tax.
Sales Tax Rates
The counties levy permissive sales tax of sale tax from 0. 25% up to 2% and transit authorities, mass transit districts usually centered on one primary country, may levy a sales tax from 0.25% up to 2%. Taxes increment may not be less than 0.25%, and the total tax rate including the state rate may not exceed 8.5%. County permissive taxes may be levied by emergency resolution of the county boards of commissioners. Transit authority taxes must and county permissive taxes may be levied by a vote of electors of the district or country. Ohio also has gross receipts called the corporate activity tax (CAT).
Ohio sales tax legislation
A bill introduced in the Ohio House of Representatives would amend some of its interstate sales tax law, requiring vendors using origin- based sit using rules to determine the appropriate sales tax jurisdiction in which a sale is taxable to continue to do so. And authorize those using destination based sourcing to convert to origin- based situsing any their convenience.
The state of Ohio has many laws concerning sales tax and various non profit organizations. Ohio lions clubs in the state of Ohio must,
Pay sales on taxable items purchased for their own use.
collect and submit sales tax from the public when selling taxable items as a fund raising project
To complaint with the sales tax laws of Ohio, all lions clubs involved with fund raising projects that sells tangible taxable items such as roses, light bulbs, brooms etc. must follow,
Obtain a vendors license. A regular vendor license is obtained from the local county auditor. There is one time $25 application fee..annual renewals are no longer required.
Collect sales tax- Vendors must charge and collect the sale tax rate in the effect in the county where the sales is made.
Keep proper records- vendors are required to keep complete records of sales tax charges. All records must be maintained for 4 years and are open to inspection by agents of the Tax Commissioner.
File returns and submit tax- vendors will be notified of their filing schedule, monthly or semiannually, based upon their anticipated tax liability. These returns are submitted to the state treasurer on forms provided by the state. Returns must be filed even when no tax is due. The file return can be done on phone if no tax is due. Make sure by getting 13 digit confirmation number. Always keep the copy of the returns with club files.
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