Taxes and tax policies are complex. The laws and regulations that implement federal, state and local taxes in Ohio derive from multiple sources and each one of the taxing authorities have their own interests to serve. And because tax codes are statutory and infrequently revised as a whole, their complexity is increased by the fact that various sections of the tax codes have been created at different times by different legislatures.
IRS scammers are out there, and they are relentless
Dealing with the IRS is never fun. We'll take our award for "most obvious comment of the day" now.
What is a severance tax?
The Ohio legislature has been considering changing the state's severance tax recently. In the last session, the legislature created tax policy study commission, whose job is to examine the state's severance tax and put together proposals to reform the tax to "maximizes competitiveness and enhances the general welfare of the state." Laudable goals indeed, but many in Ohio may wonder what a severance tax is and why it could be increased.
