1318.01 Auction definitions.

As used in sections 1318.01 to 1318.08 , inclusive, of the Revised Code:

(A) "New merchandise" means all goods, wares, and merchandise not previously sold at retail.

(B) "New merchandise public-auction sale" means the offering for sale or selling of new merchandise to the highest bidder or offering for sale or selling of new merchandise at a price and then offering the same at successive lower prices until a buyer is secured.

(C) "Taxpayer" means a person, firm, or corporation who is required to file and has filed a personal property tax return, listing tangible personal property used in business and has been assessed and has paid tangible personal property tax thereon in the county wherein new merchandise is offered for sale or sold.

Effective Date: 11-09-1959