Ohio Revised Code Search

... otherwise provided under section 5747.212 of the Revised Code, all items of business income and business deduction shall be apportioned to this state by multiplying business income by the fraction calculated under division (B)(2) of section 5733.05 and section 5733.057 of the Revised Code as if the taxpayer's business were a corporation subject to the tax imposed by section 5733.06 of the Revised Code. (C) If the a...

...equity voting rights of a section 5747.212 entity shall apportion any income, including gain or loss, realized from each sale, exchange, or other disposition of a debt or equity interest in that entity as prescribed in this section. For such purposes, in lieu of using the method prescribed by sections 5747.20 and 5747.21 of the Revised Code, the investor shall apportion the income using the average of the section 574...

...s the same meaning as in section 5733.401 of the Revised Code. (B) Except as provided in division (C) of this section, for the purposes of sections 5747.20, 5747.21, and 5747.22 of the Revised Code, no item of income or deduction shall be allocated or apportioned to this state to the extent that such item represents the portion of an adjusted qualifying amount for which the withholding tax is not imposed under secti...

... chapter and sections 5733.40 and 5733.41 of the Revised Code is changed accordingly. (B) A qualifying entity's and an electing pass-through entity's method of accounting shall be the same as its method of accounting for federal income tax purposes. In the absence of any method of accounting for federal income tax purposes, income shall be computed under such method as in the opinion of the tax commissioner clearly...

...s apportioned pursuant to section 5747.51 of the Revised Code shall be as follows: Calculation of (name of subdivision) share of undivided local government fund for (name of county) county Authorized expenditure for subdivision Total 1. Estimated expenditures from general fund _____ 2. Estimated expenditures from special funds other than those established for road and bridge, street construction, maint...

...(A) As used in this section: (1) "Qualifying taxpayer" means a taxpayer that is an individual with a dependent who is a qualifying student. (2) "Qualifying student" means a student who is exempt from the compulsory attendance law for the purpose of home education under section 3321.042 of the Revised Code for the school year. (3) "Education expenses" means expenses or fees for any of the following items used...

...the entity satisfies the following: (1) It is a religious or nonreligious nonprofit organization exempt from federal taxation under section 501(a) of the Internal Revenue Code as an organization described in section 501(c)(3) of the Internal Revenue Code. (2) It primarily awards academic scholarships for primary and secondary school students. (3) It prioritizes awarding its scholarships to low-income primary...

...(A) Whoever violates section 5747.19 of the Revised Code is guilty of a felony of the fifth degree. (B) Whoever violates any provision of sections 5747.01 to 5747.19 of the Revised Code, or any lawful rule promulgated by the tax commissioner under authority of any provision of those sections, for the violation of which no other penalty is provided in this section, shall be fined not less than one hundred nor more th...

... the amount of tax due under section 5751.03 of the Revised Code for the calendar quarter. (B)(1) Subject to division (B) of section 5751.05 of the Revised Code, a taxpayer shall report the taxable gross receipts for that calendar quarter. (2) With respect to taxable gross receipts incorrectly reported in a calendar quarter that has a lower tax rate, the tax shall be computed at the tax rate in effect for the q...

...d to be paid for the tax period. (B)(1) If any additional tax is found to be due, the tax commissioner may impose an additional penalty of up to fifteen per cent on the additional tax found to be due. (2) Any delinquent payments of the tax made after a taxpayer is notified of an audit or a tax discrepancy by the commissioner is subject to the penalty imposed by division (B) of this section. If an assessment is ...

...mbined taxpayer groups under section 5751.011 or 5751.012 of the Revised Code to the taxpayer's reporting person. The reporting person shall notify all members of the group of the assessment and all outstanding taxes, interest, and penalties for which the assessment is issued. (B) Unless the person assessed, within sixty days after service of the notice of assessment, files with the tax commissioner a written petit...

...n and division (F)(2)(gg) of section 5751.01 of the Revised Code: (1) "Qualified uranium receipts" means receipts from the sale, exchange, lease, loan, production, processing, or other disposition of uranium within a uranium enrichment zone certified by the tax commissioner under division (B) of this section. "Qualified uranium receipts" does not include any receipts with a situs in this state outside a uranium enr...

...n and division (F)(2)(jj) of section 5751.01 of the Revised Code: (1) "Qualifying integrated supply chain receipts" means receipts of a qualified integrated supply chain vendor from the sale of qualified property delivered to, or integrated supply chain services provided to, another qualified integrated supply chain vendor or to a retailer that is a member of the integrated supply chain. "Qualifying integrated supp...

...(A)(1) A taxpayer who fails to file a return or to remit the tax due as required by section 5753.04 of the Revised Code shall pay a penalty not to exceed the greater of five hundred dollars or ten per cent of the tax due. (2) If the tax commissioner finds additional tax to be due, the tax commissioner may impose an additional penalty of up to fifteen per cent of the additional tax found to be due. A delinquent paym...

...(A)(1) The tax commissioner may issue an assessment, based on any information in the tax commissioner's possession, against a taxpayer who fails to pay the tax levied under section 5753.02 or 5753.021 of the Revised Code or to file a return under section 5753.04 of the Revised Code. The tax commissioner shall give the taxpayer written notice of the assessment under section 5703.37 of the Revised Code. With the notice...

...a fact if any of the following apply: (1) The person has actual knowledge of the fact. (2) The person has received notice or notification of the fact. (3) From all the facts and circumstances known to the person at the time in question, the person has reason to know the fact. (B) An organization that conducts activities through employees has notice or knowledge of a fact involving a trust only from the time an em...

... in the terms of the trust, Chapters 5801. to 5811. of the Revised Code govern the duties and powers of a trustee, relations among trustees, and the rights and interests of a beneficiary. (B) The terms of a trust prevail over any provision of Chapters 5801. to 5811. of the Revised Code except the following: (1) The requirements for creating a trust; (2) The duty of a trustee to act in good faith and in accordance ...

...ing law, both of the following apply: (1) The law of the trust's principal place of administration governs the administration of the trust. (2) If the trust's principal place of administration is transferred to another jurisdiction under section 5801.07 of the Revised Code, the law of the new principal place of administration of the trust governs the administration of the trust from the time of the transfer.

...r shall include all of the following: (1) The name of the jurisdiction to which the principal place of administration is to be transferred; (2) The address and telephone number at the new location at which the trustee can be contacted; (3) An explanation of the reasons for the proposed transfer; (4) The date on which the trustee expects the proposed transfer to occur. (E) In connection with a transfer of the tru...

...rrevocable trust described in 42 U.S.C. 1396p(d)(4). (B) A noncharitable irrevocable trust may be terminated upon consent of all of the beneficiaries if the court concludes that continuance of the trust is not necessary to achieve any material purpose of the trust. A noncharitable irrevocable trust may be modified, but not to remove or replace the currently serving trustee, upon consent of all of the beneficiaries...

...chieve, all of the following apply: (1) The trust does not fail in whole or in part. (2) The trust property does not revert to the settlor or the settlor's successors in interest. (3) The court may apply cy pres to modify or terminate the trust by directing that the trust property be applied or distributed, in whole or in part, in a manner consistent with the settlor's charitable purposes. In accordance with...

...able against either of the following: (1) The beneficiary's child or spouse who has a judgment or court order against the beneficiary for support, but only if distributions can be made for the beneficiary's support or the beneficiary is entitled to receive mandatory distributions under the terms of the trust; (2) A claim of this state or the United States to the extent provided by the Revised Code or federal law. ...

...cretion, both of the following apply: (1) The court may order a distribution to satisfy a judgment or court order against the beneficiary for support of the beneficiary's child or spouse, provided that the court may order the distributions only if distributions can be made for the beneficiary's support under the terms of the trust and that the court may not order any distributions under this division to satisfy a ju...

...y do either or both of the following: (1) Act to preserve the trust property if, within a reasonable time after acting, the person sends a rejection of the trusteeship to the settlor or, if the settlor is dead or lacks capacity, to a qualified beneficiary; (2) Inspect or investigate trust property to determine potential liability under environmental or other law or for any other purpose.

...tee for any of the following reasons: (1) The trustee has committed a serious breach of trust; (2) Lack of cooperation among cotrustees substantially impairs the administration of the trust; (3) Because of unfitness, unwillingness, or persistent failure of the trustee to administer the trust effectively, the court determines that removal of the trustee best serves the interests of the beneficiaries. (C) Pending a...