CAT Exemption Update

Important Information Regarding Implementation Date

It has recently come to our attention that the effective date we originally promoted in the 7/1/13 News & Notes is incorrect.  We were working off information shared with us by the state legislature and felt at the time it was accurate and correct. 

At this time the CAT exemption for grain handlers will be effective 7/1/2014.  We are currently working with the Department of Taxation on a compromise that would move the effective date to January 1, 2014.  Unfortunately this does not provide the relief we need for this harvest season.

We will continue to share additional information as it becomes available.  Please consult your accountant directly for your company’s CAT obligations.  In the meantime, if you have general questions please contact Chris Henney at 614-326-7520 or chenney@oaba.net.