In a case involving a hydraulic fracturing company and whether certain equipment it purchased qualified for Ohio’s sales and use tax exemption as equipment used directly in the production of crude oil and natural gas, the Ohio Supreme Court reversed earlier rulings in the case to hold in the taxpayer’s favor that the equipment qualified for exemption under a broader interpretation of the exemption statute.
Source Deloitte
Latest Posts in "United States"
- Navigating the Complex Tax Landscape of Digital Products and Services in the U.S.
- Understanding VATs and Tariffs: Essential Tax Principles for U.S. Global Business Success
- Wayfair’s Economic Nexus: Transforming Business Tax Obligations Across Sales and Income Tax Landscapes
- Indiana DOR Grants Sales Tax Refund After Sustaining Taxpayer’s Protest and Evidence Submission
- Missouri Eliminates Sales Tax on Essential Hygiene Products, Benefiting Families Statewide
