Ohio Sales Tax Guide
Chapter 7: How to manage late Ohio sales tax return filing
Hopefully you don't need to worry about this chapter because you're getting your Ohio sales tax filing and remittance done on time and submitted without incident. However, in the real world, mistakes happen. In this chapter, we'll talk about how to avoid costly penalties and fines if you've missed your assigned filing deadline.What do I do if I missed my Ohio sales tax filing deadline?
The first thing to do is get your return filed. This is definitely one of those situations where things are "better late than never." As long as you don't submit your tax filing paperwork, or hold on to the tax dollars you've collected, you may be accruing fines and interest. It's always best to get your filing done and deal with any penalties and interest payments later.What penalties and interest payments are imposed by the Ohio Department of Taxation?
Late Filing: If Ohio sales tax is not filed on time or collected sales tax is not remitted, an additional charge up to $50 or 10 percent of the tax collected, whichever is greater, may be levied. The Ohio Department of Taxation may assess this fine on each late or missing return.
No Filing: Should the tax payer simply choose to not file a return or not remit collected sales tax to the appropriate Ohio tax jurisdictions, a penalty of up to 50 percent of the tax due may be assessed.
Interest Charges: Interest may be due on any taxes found due and not paid in a timely manner.
Note: A $50 fee is charged for every returned check.If I acquire a business, am I responsible for any outstanding sales tax debts, penalties, and interest?
Yes! If you are acquiring a business, it is strongly recommended that you contact the Ohio Department of Taxation and inquire about the current state of the potential acquisition. Once you've purchased the business, you will be held responsible for any and all outstanding Ohio sales and use tax liability.