Ohio’s new COVID immunity bill (H.B. 606) became law on Monday, September 14, 2020, and provides broad legal immunity to individuals, schools and businesses from claims in connection with COVID-19. Businesses cannot be liable to employees, patrons or others for claims related to the transmission, exposure and/or contraction of COVID-19. The new law applies to Ohio entities […]
Late last evening, in a bold response to the crisis currently facing our country, the Senate passed the nearly $2 trillion Coronavirus Aid, Relief, and Economic Security (CARES) Act. This bill, known as Phase 3, is extremely beneficial for small business of all sizes and includes unique provisions to help provide liquidity and to help businesses […]
Because of the COVID-19 pandemic, the U.S. Small Business Administration (“SBA”) now offers a program of economic injury disaster loans to private non-profits, as well as for-profit businesses that have suffered substantial economic injury as a result of the COVID-19 pandemic. Generally, substantial economic injury means the private non-profit or business is unable to meet its obligations […]
A so-called “home for the aged” can apply for real estate tax exemption under Section 5709.12 of the Ohio Revised Code. More familiar names for these homes may be residential care facility or nursing home. One requirement for exemption is that the facility “provide services for the life of each resident without regard to the resident’s ability […]
The legalization and prescription of so-called “medical marijuana” is increasing on a state by state basis. In a recent IRS Private Letter Ruling (No. 201940008), the organization at issue sought to obtain 501(c)(3) tax-exempt status. The organization raised funds to assist individuals in financial need to help them pay for their prescribed treatment with medical marijuana. […]
NEW REAL ESTATE TAX BREAKS FOR COMMERCIAL PROPERTY Effective March 28, 2017, a new real estate tax exemption will be available for industrial and/or commercial real estate which is under development. The exemption is intended to benefit properties that have not yet, but will be, developed or redeveloped with new construction of commercial or industrial buildings. […]
Two Ohio court decisions have recently come to attention with regard to nonprofit organizations. One decision ruled that a grant making organization wishing to enforce any restrictive terms of the grant in the future must continue to exist as an entity (Asia Pacific Futures Research Symposium Planning Committee v. Kent State University, et al., 2016 […]
New tax values for Cuyahoga County residential properties have been published and values are up. The same holds true for commercial properties. Property owners can apply to county Boards of Revision and potentially reduce the county’s valuation of their property. Learn more in Dana Rose’s advisory, “Applications for Property Tax Reductions Due March 31.” 2016 – […]
