Client Alert: Ohio Board of Tax Appeals Decision Generally Supports Use of Retail Inventory Method of Accounting

Click on the link below to download the February 19, 2009 Client Alert which covers how the Ohio Board of Tax Appeals issued a decision styled Rich’s Department Stores, Inc. v. Wilkins, Case No. 2005-T-1609, which addressed the valuation of inventory for personal property tax purposes. Of special interest to retailers, the BTA’s decision generally supported use of the "Retail Inventory Method" of accounting ("RIM") to determine the value of inventory to be reported for personal property tax purposes.