Ohio to Tax Trucking Firms Based on Gross Receipts

Click here to write a Letter to the Editor.

any trucking companies based in — or operating in — Ohio could see their annual income tax liability increase significantly because of a new state tax law that is replacing the corporate franchise tax with a gross receipts tax, trucking officials said.

Interstate carriers that have annual taxable gross receipts of at least $500,000 and drive more than 25% of their miles in Ohio would be subject to the tax, said David Salerno, technical director of American Trucking Associations’ National Accounting & Finance Council.

In addition to Ohio-based trucking companies, those companies in nearby states such as Indiana, Pennsylvania, New York, Michigan, Kentucky and West Virginia also “should be concerned about the new 25% [mileage] rule because many trucking companies run back and forth between neighboring states, depend-ing on their operations,” Salerno told Transport Topics.

For the full story, see the Sept. 5 print edition of Transport Topics. Subscribe today.