REA & Associates Offers Ohio Use Tax Resource Center

April 19, 2011 - PRLog -- New Philadelphia, Ohio – Rea & Associates, a regional accounting and business consulting firm, has created the Ohio Use Tax Resource Center, an online resource center to assist businesses in understanding and complying with Ohio’s use tax law.

Use tax is a tax that wasn’t paid, but should have been, on taxable property or services a business purchased. It is a complement to the state’s sales tax, and most often occurs when a business purchases goods in-state, out-of-state or over the internet, and the retailer does not collect Ohio tax.

The Ohio Department of Taxation is stepping up its efforts to enforce Ohio’s use tax law, and has already identified 380,000 businesses that do not have use tax accounts. The agency will begin contacting businesses to enforce compliance later this summer, but Ohio business owners have the opportunity to lessen their tax liability if they come forward voluntarily before the state contacts them.

“Ohio businesses may soon become subject to an unplanned tax bill as a result of this use tax enforcement initiative,” said Lee Beall, Rea’s CEO. “We are glad to be able to help explain how this tax works and help businesses understand that if they act quickly, they can lessen their tax liability. As far as we know, this is the only resource center of its kind available to Ohio businesses.”

The resource center explains when use tax is due, how businesses can comply, shares the use tax experiences of businesses and answers commonly asked questions about the tax. To learn more, visit the Ohio Use Tax Resource Center at http://www.reacpa.com/ohiousetax-1.

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Founded in 1938, Rea & Associates, Inc. is a regional certified public accounting and consulting firm with more than 200 dedicated professionals in 11 Ohio locations. Rea & Associates provides accounting, audit, tax, and business consulting services to clients in a wide variety of industries, including closely-held businesses, construction, government, healthcare manufacturing and not-for-profit. The firm has been named a Top 100 accounting firm by Inside Public Accounting. And as an independent firm associated with Moore Stephens International Limited, Rea & Associates has access to more than 366 independent accounting and consulting firms across 647 offices in 98 countries, enabling the firm to provide global reach with a local perspective. For more information about Rea & Associates, please call 877-473-2272 or visit www.reacpa.com.