Significant Developments in Corporate Franchise Tax, Income Tax and Municipal Income Tax

Topics of this presentation included:

• Sub House Bill 73 – Change in “Bright Line””Residency Test
• Prior 120 “contact periods” – Plus 30 Replaced With 182 contact periods
• New Statement Required in All Cases – Failure to File Statement or Filing False Statement Results in Loss of Presumption
• Incorporation of Internal Revenue Code as of December 28, 2006
• Statutes of Limitation For Assessment and Collection
• Job Creation and Job Retention Tax Credits
• Innocent Spouse Relief
• Ohio Resident Credit Intersects With Kentucky Tax Modernization Act
• Restoration of Federal Pass-Through Entity Treatment For Taxable Years Beginning on or After January 1, 2007
• Proposed New Rule For Nonresident Spouse Filing Joint Federal Return Information Release IT 2006
• National City Case
• Knust Case