Ohio’s Commercial Activity Tax (CAT) underwent major changes on Jan. 1.

For tax periods beginning on and after Jan. 1, 2024, the CAT annual minimum tax is eliminated, and the exclusion amount is increased from $1 million to $3 million. That means taxpayers with taxable gross receipts of $3 million or less per calendar year will no longer be subject to the CAT.

The state Department of Taxation is hosting three free webinars to explain the changes to small business owners. The webinars will be from 9-9:30 a.m. on Jan. 20, 23, and 31. Click here to learn more and register.