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The Legislative Service Commission staff updates the Revised Code on an ongoing basis, as it completes its act review of enacted legislation. Updates may be slower during some times of the year, depending on the volume of enacted legislation.

Section 5749.03 | Natural resources severed from an exempt domestic well.

Ohio Revised Code
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Title 57 Taxation
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Chapter 5749 Severance Tax
 
You are viewing a past version of this section that is no longer in effect View Current Version
Effective:
June 30, 2010
Legislation:
Senate Bill 165 - 128th General Assembly
PDF:
Download Authenticated PDF
 

The following shall be exempt from the tax imposed by section 5749.02 of the Revised Code and the amount due under section 1509.50 of the Revised Code:

The severance of natural resources from land or water in this state owned legally or beneficially by the severer, which natural resources will be used on the land from which they are taken by the severer as part of the improvement of or use in the severer's homestead and which have a yearly cumulative market value of not greater than one thousand dollars. When severed natural resources so used exceed a cumulative market value of one thousand dollars during any year, the further severance of natural resources shall be subject to the tax imposed by section 5749.02 of the Revised Code.

Available Versions of this Section