Grain bins are “business fixtures” that are personal property and not subject to real property tax, according to a decision issued today by the Ohio Supreme Court. Continue reading.
Ohio’s newest legislation addressing water quality concerns became effective on July 3, 2015. The new law, enacted by the Ohio legislature earlier this year as Senate Bill 1, affects Ohio agriculture with the following provisions. (To read this post, go to our new blog site at aglaw.osu.edu/blog.)
Ohio’s Senate and House of Representatives have agreed upon a final bill intended to control algae production in Lake Erie and its western basin. To read this post, visit our new blog site at http://aglaw.osu.edu/blog.
Senate and House bills on algae control differ On March 10, the Ohio House of Representatives passed H.B. 61, a proposal to address Ohio’s toxic algae issues. Last month, the Ohio Senate approved a bill on the same issue, but with several points of difference. To read this post, visit our new blog site at aglaw.osu.edu/blog.
After much anticipation, the Federal Aviation Administration (FAA) has published proposed regulations that would govern the operation of drones used for agricultural and other activities. To read this post, visit our new blog site at http://aglaw.osu.edu/blog.
Legislation intended to reduce the occurrence of harmful algae blooms in Ohio passed the Ohio Senate on February 18 after a fast track through the Senate Agriculture Committee. To read this post, visit our new blog site at http://aglaw.osu.edu/blog.
Author: Larry R. Gearhardt, OSU Extension Field Specialist in Taxation
Generally, a taxpayer that buys business or income-producing property (not held for sale) with a useful life of more than one year cannot deduct its full cost as an expense for that year. To read this post, go to our new blog website, http://aglaw.osu.edu/blog.