Ohio Tax Reform Workshop Continues Successful Run

COLUMBUS, Ohio, Sept. 21 /PRNewswire/ -- The Ohio Society of CPAs Tax Reform Updates on the new tax act have been a tremendous success with hundreds of tax professionals attending from around the state.

After working successfully with the Ohio General Assembly to pass reforms to Ohio's outdated tax structure, The Ohio Society of CPAs is now working to inform its members and other professionals, such as tax attorneys and company finance officers, of those changes.

Featured at the sessions is Lt. Gov. and Ohio Development Department Director Bruce Johnson who is leading the charge to educate CPAs of the sweeping changes to the state's tax system.

"The Ohio General Assembly passed landmark reforms to Ohio's tax system that will serve as an invaluable tool to spur economic development and create jobs in Ohio," Johnson said. "Now, our task is to get information to tax practitioners so Ohio businesses and individuals can reap benefits of these changes."

In addition to Johnson, tax department officials and distinguished tax experts round out a panel of presenters who address the benefits and many changes associated with Ohio tax reform, including:

- Impact of the commercial activity tax (CAT) on business
- Phase-out of the corporate franchise tax
- Changes to tangible personal property and real property taxes
- Developments in sales, excise, personal income and trust taxes.

The reforms, which took effect July 1, cut personal income tax rates by 21 percent over five years, completely phase out the tangible personal property tax on equipment and inventory, eliminate the corporate franchise tax and establish the new broad-based, low-rate CAT.

The society partnered with the Ohio Department of Taxation, The Ohio State Bar Association and The Ohio Manufacturers' Association to offer the Ohio Tax Reform Updates.

More than 1,600 tax practitioners so far have attended three eight-hour continuing professional education (CPE) courses held in Columbus, Cincinnati, Cleveland, Toledo and Lima. Remaining dates include:

- Oct. 17 in Columbus
- Oct. 21 in Cleveland.

Registration for the workshop is required. Course fee is $99. The program qualifies for eight continuing professional education credits in taxation for CPAs.

For more information or to register, visit http://www.ohioscpa.com/cpe or call CPAnswers at 1-888-959-1212 or 614-791-1212 in Columbus.

The Ohio Society of CPAs, established in 1908, represents more than 23,000 CPAs in business, education, government and public accounting. The Ohio Society's members not only meet the same statutory and regulatory requirements as CPAs, but also embrace the highest standards of professional and ethical performance. This is achieved through ongoing professional education, comprehensive quality review and compliance with a strict Code of Professional Conduct.