Ohio: Proposed Rule Reflects Law Permitting Bad Debt Deductions for Certain Private Label Credit Card Transactions

The Ohio Department of Taxation proposed a new rule reflecting state law that allows vendors to take Ohio’s sales tax bad debt deduction on private label credit accounts used to make purchases from the vendor or the vendor’s affiliates, even though the debt is charged off as uncollectible on the books of the owner of the credit account.

Source Deloitte

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