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Politics


New bill aims to automatically refund business taxes
Businesses would no longer have to file to receive a refund
by WKSU's STATEHOUSE BUREAU CHIEF KAREN KASLER


Reporter
Karen Kasler
 
Tax Commissioner Joe Testa says the new bill will simplify the business tax refund process.
Courtesy of Ohio Department of Taxation
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In The Region:

Businesses that overpay their taxes would be able to get refunds automatically without having to apply for them under a bill introduced this week at the Statehouse.

The law requiring businesses to be notified if they’ve overpaid their taxes could be the first law of its kind among the surrounding states, most of which require businesses to file for a refund. Tax Commissioner Joe Testa says the refunds can be issued as credits for future payments or as cash.

 

TESTA ON TAX BILL

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“Much of it will just be cash directly sent to the tax payer," Testa says. "In some cases, it will be credited over if it is still an active business. Part of this bill is to give us the tools to do that more efficiently, so it’s really a little of both.”

The bill comes after the state inspector general found that the tax department failed to refund more than 30 million dollars in overpayments by businesses and sometimes ignored refund requests.

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