Tax News

CCH (cch.taxgroup.com) reports:

  The Ohio Tax Commissioner has issued a waiver of reporting requirements for certain real estate investment trusts (REITs), regulated investment companies (RICs), and real estate mortgage investment conduits (REMICs) for the corporate franchise tax year 2009 and the dealer in intangibles tax return year 2009. However, reporting requirements are not waived for any such entity if during the any portion of the calendar year 2008:

  -- at least 20% of the equity interest was owned by a person and/or by that person's related members, on a cumulative basis; and

  -- that person, or any of that person's related members, was an entity other than a publicly traded REIT or trust.

To be eligible for the waiver, the entities are required to submit to the Commissioner a list of the names, addresses, and Social Security or federal identification numbers of all investors, shareholders, and other similar investors who owned any interest or invested in the entity during the preceding calendar year.

  Subscribers to CCH Tax Research NetWork can view the waiver.

Administrative Journal Entry, Ohio Department of Taxation, October 15, 2008.