Tag Archives: income tax

The Ohio Supreme Court Places Limitations on the Ohio Bright Line Income Tax Residency Presumption

By Kelvin Lawrence on August 4, 2015 Posted in Income Tax

On July 8, 2015, the Ohio Supreme Court found that Ohio nonresidents may not claim the benefit of the Ohio “bright line” presumption of nonresidency for income tax purposes if the taxpayer attests to having a domicile outside Ohio on the required Affidavit of Non-Ohio Domicile and the tax commissioner is in possession of information … Continue Reading

Beware: Active Participation of S-Corporation Trustee Shareholder is Required – Technical Advice Memorandum 201317010

By Christopher Fidler on August 6, 2013 Posted in Estate Planning, Tax, Trust Administration

Differing points of view have arisen regarding determining the active participation of S-Corporation shareholdings held in Trust. The uncertainty centers on IRC § 469. Section 469 defines a passive activity as any activity that involves the conduct of any trade or business in which the taxpayer does not materially participate, and the section specifically includes … Continue Reading