122:7-1-07 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 new employees, the new state of Ohio income tax revenue withheld in connection with the eligible new employees for the preceding taxable year, the annual payroll of the eligible new employees, the average wage of the eligible new employees, and any other information the director deems appropriate to perform his or her duties. This taxpayer’s report 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 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 for an additional period equal to the term of the tax credit following 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.

(C) The taxpayer shall establish and maintain for at least four years from the conclusion of the tax credit such records as are required by the director. Such records includes, but not limited to, records of personnel and 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 such reports were filed.

HISTORY: Eff 11-8-99; 4-8-94; 11-10-03

Rule promulgated under: RC 119.03

Rule authorized by: RC 122.17(1)

Rule amplifies: RC 122.17

R.C. 119.032 Review Dates: 11/10/2008