122:16-1-05 Reports.

(A) A taxpayer shall be required annually during the term of the tax credit to submit a report to the director specifying the number of eligible retained full-time employment positions, the State of Ohio income tax revenue withheld in connection with the eligible retained full-time employees for the preceding taxable year, the annual payroll of the eligible retained full-time employees, the average hourly base wage of the eligible retained full-time employees, the amount of payments during the preceding taxable year made toward the capital investment associated with the project, and any other information the director deems appropriate to perform his or her duties. For purposes of this rule and division (A) of section 122:16-1-03 of the Ohio Administrative Code, a taxpayers’s application and reports to the director shall be certified as accurate and complete as evidenced by the original signature of any authorized officer of the taxpayer.

(B) The taxpayer’s annual report shall be postmarked prior to or received by the director no later than March first of each year. Upon receiving a written request from the taxpayer, the executive director of the authority may approve an extension of up to sixty calendar days after the due date, if deemed appropriate by the executive director. Any extensions beyond the first sixty days may be granted by the director, on a case by case basis, as the director deems appropriate. Nothing in this section shall be construed as waiving the right of the authority to assess any and all late fees as appropriate under division (D) of section 122:16-1-02 of the Ohio Administrative Code.

(C) The taxpayer shall maintain its operations at the project site for at least twice the number of years as the term of the tax credit. No later than March first of each year following the term of the tax credit, for an additional period equal to the term of the tax credit, the taxpayer shall submit to the director a certification that includes, but is not limited to, information demonstrating the taxpayer maintains operations at the project location and the total employment at the project location.

(D) The taxpayer shall establish and maintain for at least four years from the termination of the tax credit such records as are required by the director. Such records include, but are not limited to, records of personnel conditions of employment. The taxpayer shall organize and make available such records as required under this rule for the review and verification of the director or his representative and appropriate state agencies or officials. The taxpayer shall permit the director or his representative and appropriate state agencies or officials to audit, examine and make excerpts or transcripts from records maintained under this rule at any time during normal business hours upon written notice and as often as the director may reasonably deem necessary. In the event the director determines a taxpayer has submitted an annual report containing erroneous data or data not supported by the records established and maintained under this rule, the director may, after providing notice, require the taxpayer to resubmit corrected annual reports for the years in which reports were filed.

HISTORY: Eff 12/22/2003

Rule promulgated under: RC 119.03

Rule authorized by: RC 122.171(K)

Rule amplifies: RC 122.171

RC 119.032 Review Dates: 12/22/2008