5703-5-08 Books from which the value of issued and outstanding shares of stock is determined under the net worth basis of the corporation franchise tax.

If a taxpayer keeps books both in accordance with regulatory accounting principles and in accordance with generally accepted accounting principles, the value of the taxpayer's issued and outstanding shares of stock under division (A) of section 5733.05 of the Revised Code shall be based upon those books kept in accordance with generally accepted accounting principles.

Replaces part of rule 5703-5-08; Eff 12-14-84
Rule promulgated under: RC 5703.14
Rule authorized by: RC 5703.07
Rule amplifies: RC 5733.05