Business professionals will have the opportunity to brush up on tax information - just in time for the start of tax season - at the 19th Annual Ohio Tax Conference, taking place at the Greater Columbus Convention Center Jan. 28 and 29.

"The event is the largest state tax conference in the nation," said Scott Ziance, partner at Vorys, Sater, Seymour and Pease LLP, who will be presenting.

Ziance said he expects the conference to attract between 700 to 800 attendees, including in-house tax professionals, state tax professionals, tax lawyers, tax accountants, controllers and treasurers.

"It provides anyone who has state tax-related responsibilities to get caught up on recent developments and best practices, while having the opportunity to interact with leading tax practitioners, state tax officials and in-house tax professionals," he said.

The conference will feature presentations on planning for a business audit; doing business in a distressed economy; dealing with merger and acquisition issues; Ohio's complex municipal income taxation; the increasing use of tax incentives and credits; and the impact of national health-care reform and climate legislation on Ohio's economy, tax revenue and budget.

Ziance said he will be giving a general session presentation on significant developments in Ohio and local economic developments. The presentation will cover developments in sales and use, commercial activity, municipal income, pass-though entity, personal income taxes, and economic incentives and tax credits, he added.

"2009 was the most active year in the economic development incentives field since 1994, so I am excited about updating all of the attendees on the key developments," Ziance said, adding that he also will be speaking during a breakout session that will give attendees a basic overview regarding how to use the most important economic development incentives.

Jesse Cook-Dubin, also a partner at Vorys, Sater, Seymour and Pease LLP, said he will be speaking about state tax considerations in the restructuring of debt and bankruptcy. He also will be discussing personal liability of employees, specifically in the finance department, he said.

"Even with the economy showing signs of improvement, many businesses are still hanging by a thread. Many financial and tax professionals do not realize that they could not only lose their jobs if their company fails, but could be liable for some of the company's unpaid taxes," Cook-Dubin said. "It's not every day that financial and tax professionals get a window into what could happen to them if their company fails."

Although last year's conference presentation on the tax implications of bankruptcy was timely, Cook-Dubin added, there is an increased sense of urgency this year due to an increased pace of business bankruptcy filings.

"We have seen larger companies making unprecedented use of bankruptcy relative to state and local taxes, as GM and Chrysler did," said Cook-Dubin. "The stakes for taxing authorities are higher as well, given the fall-off in revenues."

Another Vorys partner, Chris Connelly, said he will be speaking about noteworthy legislative changes made to Ohio's job creation and job retention tax credits in the state biennial budget bill, and the partial effects related to the changes.

"The job creation tax credit is probably the most important tool in the state's economic development 'toolbox.' The job retention tax credit has been rarely used because it was very difficult for companies to meet the eligibility requirements," Connelly said, adding that the legislative changes will make the annual reporting process easier, the job creation tax credit easier to track and claim, and qualifying for the job retention tax credit easier for companies.

Connelly said this year's tax conference will focus on the current state of the economy, and how tax practitioners have been affected.

"The general sessions (will) provide updates on some of the most important tax issues that have arisen in the past year," he said.

The program is sponsored by the Manufacturers' Education Council.