122:24-1-03 Registration process.

(A) There are two parties that are required to register with the department of development as part of the process of issuing a small business investment certificate, the eligible investor and the small business enterprise. Registration shall be accomplished using the Ohio business gateway at: http://business.ohio.gov, or the website address located at: http://invest.ohio.gov.

(B) In order to register as an eligible investor with the investOhio program in accordance with paragraph (A) of this rule, at the location denoted in paragraph (A) of this rule, the following information must be provided: the entity type; its name and address; email address; social security number or federal employer identification number; an acknowledgement that the investment must be for the acquisition of capital stock or other equity interest in a small business enterprise; and such additional information as the director may deem to be necessary.

(C) When the registration process has been completed, pursuant to this rule, an investOhio user ID will be issued. This number will be used to identify the eligible investor throughout the investOhio program. The investOhio user ID is used to match the eligible investor up to qualifying investments, as defined by division (A)(2) of section 122.86 of the Revised Code. If an eligible investor makes multiple investments with the same or different small business enterprises, the same investOhio user ID will be used for each application.

(D) In order to register as a small business enterprise with the investOhio program in accordance with paragraph (A) of this rule, at the location denoted in paragraph (A) of this rule, a corporation, pass-through entity or other person must provide the following information: the entity type; its name and address; email address; social security number or federal employer identification number, the business registration number issued by the Ohio secretary of state; its North America industry classification system code; information relating to meeting the employee requirement, as described in division (A)(1)(b) of section 122.86 of the Revised Code; information relating to meeting the sales requirement, as described in division (A)(1)(a) of section 122.86 of the Revised Code; information relating to meeting the asset requirement, also as described in division (A)(1)(a) of section 122.86 of the Revised Code; and such additional information as the director may deem to be necessary.

(E) When the registration process has been completed, an investOhio user ID will be issued. This number will be used to identify the small business enterprise throughout the investOhio program. The investOhio user ID is used to match the small business enterprise with qualifying investments, as defined in division (A)(2) of section 122.86 of the Revised Code. If a small business enterprise accepts multiple qualifying investments with the same or different Eligible Investors, the same investOhio user ID will be used for each application.

(F) All registrants are required to update their registration information if changes occur. Each party to a qualifying investment must affirm the accuracy of this information in the application process as described in rule 122:24-1-04 of the Administrative Code.

(G) The act of registration alone does not entitle either an eligible investor or a small business entity to a tax credit under the investOhio program.

Effective: 03/29/2012
R.C. 119.032 review dates: 03/29/2017
Promulgated Under: 119.03
Statutory Authority: 122.86(F)
Rule Amplifies: 122.86 , 5747.81
Prior Effective Dates: 11/8/2011 (Emer)