New CAT Credit Bill Introduced


Last month, Rep. Marlene Anielski (R-Walton Hills) introduced House Bill 491 to establish a five-year pilot program whereby taxpayers with Ohio facilities in an active foreign trade zone may claim a nonrefundable commercial activity tax (CAT) credit equal to the amount invested by the taxpayer in job creation and a number of other specified activities. OMA tax counsel Mark Engel of Bricker & Eckler wrote this summary of the bill and concluded: “All in all, this seems to be a very generous credit.”