Cosponsors:
Senators Hite, Schaffer, Tavares, Beagle, Coley, Faber, Hughes, Oelslager, Peterson, Sawyer, Seitz, Uecker
Representatives Boose, Letson, Barnes, McClain, Patmon, Rogers, Sprague, Adams, J., Amstutz, Beck, Bishoff, Buchy, Conditt, Milkovich, O'Brien, Pillich, Scherer, Smith, Winburn Speaker Batchelder
(A)(1) Except as provided under division (A)(2) or (B) of | 16 |
this section, any reference in Title LVII of the Revised Code to | 17 |
the Internal Revenue Code, to the Internal Revenue Code "as | 18 |
amended," to other laws of the United States, or to other laws of | 19 |
the United States, "as amended," means the Internal Revenue Code | 20 |
or other laws of the United States as they exist on the effective | 21 |
date. | 22 |
(B)(1) For purposes of applying section 5733.04, 5745.01, or | 28 |
5747.01 of the Revised Code to a taxpayer's taxable year ending | 29 |
after March 7, 2011December 20, 2012, and before the effective | 30 |
date, a taxpayer may irrevocably elect to incorporate the | 31 |
provisions of the Internal Revenue Code or other laws of the | 32 |
United States that are in effect for federal income tax purposes | 33 |
for that taxable year if those provisions differ from the | 34 |
provisions that, under division (A) of this section, would | 35 |
otherwise apply. The filing by the taxpayer for that taxable year | 36 |
of a report or return that incorporates the provisions of the | 37 |
Internal Revenue Code or other laws of the United States | 38 |
applicable for federal income tax purposes for that taxable year, | 39 |
and that does not include any adjustments to reverse the effects | 40 |
of any differences between those provisions and the provisions | 41 |
that would otherwise apply, constitutes the making of an | 42 |
irrevocable election under this division for that taxable year. | 43 |
(A) "Person" means, but is not limited to, individuals, | 48 |
combinations of individuals of any form, receivers, assignees, | 49 |
trustees in bankruptcy, firms, companies, joint-stock companies, | 50 |
business trusts, estates, partnerships, limited liability | 51 |
partnerships, limited liability companies, associations, joint | 52 |
ventures, clubs, societies, for-profit corporations, S | 53 |
corporations, qualified subchapter S subsidiaries, qualified | 54 |
subchapter S trusts, trusts, entities that are disregarded for | 55 |
federal income tax purposes, and any other entities. | 56 |
(c) Except for any differences resulting from the use of an | 87 |
accrual basis method of accounting for purposes of determining | 88 |
gross receipts under this chapter and the use of the cash basis | 89 |
method of accounting for purposes of determining gross receipts | 90 |
under section 5727.24 of the Revised Code, the gross receipts | 91 |
directly attributed to the activity of a natural gas company shall | 92 |
be determined in a manner consistent with division (D) of section | 93 |
5727.03 of the Revised Code. | 94 |
(c) In the case of a partnership, trust, or other | 118 |
unincorporated business organization other than a limited | 119 |
liability company, one person owns the organization if, under the | 120 |
articles of organization or other instrument governing the affairs | 121 |
of the organization, that person has a beneficial interest in the | 122 |
organization's profits, surpluses, losses, or distributions of | 123 |
fifty per cent or more of the combined beneficial interests of all | 124 |
persons having such an interest in the organization. | 125 |
(5) A domestic insurance company or foreign insurance | 126 |
company, as defined in section 5725.01 of the Revised Code, that | 127 |
paid the insurance company premiums tax imposed by section 5725.18 | 128 |
or Chapter 5729. of the Revised Code, or an unauthorized insurance | 129 |
company whose gross premiums are subject to tax under section | 130 |
3905.36 of the Revised Code based on one or more measurement | 131 |
periods that include the entire tax period under this chapter; | 132 |
(7) Except as otherwise provided in this division, a | 140 |
pre-income tax trust as defined in division (FF)(4) of section | 141 |
5747.01 of the Revised Code and any pass-through entity of which | 142 |
such pre-income tax trust owns or controls, directly, indirectly, | 143 |
or constructively through related interests, more than five per | 144 |
cent of the ownership or equity interests. If the pre-income tax | 145 |
trust has made a qualifying pre-income tax trust election under | 146 |
division (FF)(3) of section 5747.01 of the Revised Code, then the | 147 |
trust and the pass-through entities of which it owns or controls, | 148 |
directly, indirectly, or constructively through related interests, | 149 |
more than five per cent of the ownership or equity interests, | 150 |
shall not be excluded persons for purposes of the tax imposed | 151 |
under section 5751.02 of the Revised Code. | 152 |
(F) Except as otherwise provided in divisions (F)(2), (3), | 155 |
and (4) of this section, "gross receipts" means the total amount | 156 |
realized by a person, without deduction for the cost of goods sold | 157 |
or other expenses incurred, that contributes to the production of | 158 |
gross income of the person, including the fair market value of any | 159 |
property and any services received, and any debt transferred or | 160 |
forgiven as consideration. | 161 |
(c) Receipts from the sale, exchange, or other disposition of | 176 |
an asset described in section 1221 or 1231 of the Internal Revenue | 177 |
Code, without regard to the length of time the person held the | 178 |
asset. Notwithstanding section 1221 of the Internal Revenue Code, | 179 |
receipts from hedging transactions also are excluded to the extent | 180 |
the transactions are entered into primarily to protect a financial | 181 |
position, such as managing the risk of exposure to (i) foreign | 182 |
currency fluctuations that affect assets, liabilities, profits, | 183 |
losses, equity, or investments in foreign operations; (ii) | 184 |
interest rate fluctuations; or (iii) commodity price fluctuations. | 185 |
As used in division (F)(2)(c) of this section, "hedging | 186 |
transaction" has the same meaning as used in section 1221 of the | 187 |
Internal Revenue Code and also includes transactions accorded | 188 |
hedge accounting treatment under statement of financial accounting | 189 |
standards number 133 of the financial accounting standards board. | 190 |
For the purposes of division (F)(2)(c) of this section, the actual | 191 |
transfer of title of real or tangible personal property to another | 192 |
entity is not a hedging transaction. | 193 |
(g) Compensation, whether current or deferred, and whether in | 204 |
cash or in kind, received or to be received by an employee, former | 205 |
employee, or the employee's legal successor for services rendered | 206 |
to or for an employer, including reimbursements received by or for | 207 |
an individual for medical or education expenses, health insurance | 208 |
premiums, or employee expenses, or on account of a dependent care | 209 |
spending account, legal services plan, any cafeteria plan | 210 |
described in section 125 of the Internal Revenue Code, or any | 211 |
similar employee reimbursement; | 212 |
(j) Gifts or charitable contributions received; membership | 219 |
dues received by trade, professional, homeowners', or condominium | 220 |
associations; and payments received for educational courses, | 221 |
meetings, meals, or similar payments to a trade, professional, or | 222 |
other similar association; and fundraising receipts received by | 223 |
any person when any excess receipts are donated or used | 224 |
exclusively for charitable purposes; | 225 |
(m) Tax refunds, other tax benefit recoveries, and | 232 |
reimbursements for the tax imposed under this chapter made by | 233 |
entities that are part of the same combined taxpayer or | 234 |
consolidated elected taxpayer group, and reimbursements made by | 235 |
entities that are not members of a combined taxpayer or | 236 |
consolidated elected taxpayer group that are required to be made | 237 |
for economic parity among multiple owners of an entity whose tax | 238 |
obligation under this chapter is required to be reported and paid | 239 |
entirely by one owner, pursuant to the requirements of sections | 240 |
5751.011 and 5751.012 of the Revised Code; | 241 |
(q) In the case of receipts from the sale of cigarettes or | 249 |
tobacco products by a wholesale dealer, retail dealer, | 250 |
distributor, manufacturer, or seller, all as defined in section | 251 |
5743.01 of the Revised Code, an amount equal to the federal and | 252 |
state excise taxes paid by any person on or for such cigarettes or | 253 |
tobacco products under subtitle E of the Internal Revenue Code or | 254 |
Chapter 5743. of the Revised Code; | 255 |
(s) In the case of receipts from the sale of beer or | 262 |
intoxicating liquor, as defined in section 4301.01 of the Revised | 263 |
Code, by a person holding a permit issued under Chapter 4301. or | 264 |
4303. of the Revised Code, an amount equal to federal and state | 265 |
excise taxes paid by any person on or for such beer or | 266 |
intoxicating liquor under subtitle E of the Internal Revenue Code | 267 |
or Chapter 4301. or 4305. of the Revised Code; | 268 |
(t) Receipts realized by a new motor vehicle dealer or used | 269 |
motor vehicle dealer, as defined in section 4517.01 of the Revised | 270 |
Code, from the sale or other transfer of a motor vehicle, as | 271 |
defined in that section, to another motor vehicle dealer for the | 272 |
purpose of resale by the transferee motor vehicle dealer, but only | 273 |
if the sale or other transfer was based upon the transferee's need | 274 |
to meet a specific customer's preference for a motor vehicle; | 275 |
(u) Receipts from a financial institution described in | 276 |
division (E)(3) of this section for services provided to the | 277 |
financial institution in connection with the issuance, processing, | 278 |
servicing, and management of loans or credit accounts, if such | 279 |
financial institution and the recipient of such receipts have at | 280 |
least fifty per cent of their ownership interests owned or | 281 |
controlled, directly or constructively through related interests, | 282 |
by common owners; | 283 |
(w) Funds received or used by a mortgage broker that is not a | 288 |
dealer in intangibles, other than fees or other consideration, | 289 |
pursuant to a table-funding mortgage loan or warehouse-lending | 290 |
mortgage loan. Terms used in division (F)(2)(w) of this section | 291 |
have the same meanings as in section 1322.01 of the Revised Code, | 292 |
except "mortgage broker" means a person assisting a buyer in | 293 |
obtaining a mortgage loan for a fee or other consideration paid by | 294 |
the buyer or a lender, or a person engaged in table-funding or | 295 |
warehouse-lending mortgage loans that are first lien mortgage | 296 |
loans. | 297 |
(I) "Qualifying distribution center receipts" means receipts | 310 |
of a supplier from qualified property that is delivered to a | 311 |
qualified distribution center, multiplied by a quantity that | 312 |
equals one minus the Ohio delivery percentage. If the qualified | 313 |
distribution center is a refining facility, "supplier" includes | 314 |
all dealers, brokers, processors, sellers, vendors, cosigners, and | 315 |
distributors of qualified property. | 316 |
(II) "Qualified property" means tangible personal property | 317 |
delivered to a qualified distribution center that is shipped to | 318 |
that qualified distribution center solely for further shipping by | 319 |
the qualified distribution center to another location in this | 320 |
state or elsewhere or, in the case of gold, silver, platinum, or | 321 |
palladium delivered to a refining facility solely for refining to | 322 |
a grade and fineness acceptable for delivery to a registered | 323 |
commodities exchange. "Further shipping" includes storing and | 324 |
repackaging property into smaller or larger bundles, so long as | 325 |
the property is not subject to further manufacturing or | 326 |
processing. "Refining" is limited to extracting impurities from | 327 |
gold, silver, platinum, or palladium through smelting or some | 328 |
other process at a refining facility. | 329 |
(III) "Qualified distribution center" means a warehouse, a | 330 |
facility similar to a warehouse, or a refining facility in this | 331 |
state that, for the qualifying year, is operated by a person that | 332 |
is not part of a combined taxpayer group and that has a qualifying | 333 |
certificate. All warehouses or facilities similar to warehouses | 334 |
that are operated by persons in the same taxpayer group and that | 335 |
are located within one mile of each other shall be treated as one | 336 |
qualified distribution center. All refining facilities that are | 337 |
operated by persons in the same taxpayer group and that are | 338 |
located in the same or adjacent counties may be treated as one | 339 |
qualified distribution center. | 340 |
The applicant must substantiate to the commissioner's | 353 |
satisfaction that, for the qualifying period, all persons | 354 |
operating the distribution center have more than fifty per cent of | 355 |
the cost of the qualified property shipped to a location such that | 356 |
it would be sitused outside this state under the provisions of | 357 |
division (E) of section 5751.033 of the Revised Code. The | 358 |
applicant must also substantiate that the distribution center | 359 |
cumulatively had costs from its suppliers equal to or exceeding | 360 |
five hundred million dollars during the qualifying period. (For | 361 |
purposes of division (F)(2)(z)(i)(VI) of this section, "supplier" | 362 |
excludes any person that is part of the consolidated elected | 363 |
taxpayer group, if applicable, of the operator of the qualified | 364 |
distribution center.) The commissioner may require the applicant | 365 |
to have an independent certified public accountant certify that | 366 |
the calculation of the minimum thresholds required for a qualified | 367 |
distribution center by the operator of a distribution center has | 368 |
been made in accordance with generally accepted accounting | 369 |
principles. The commissioner shall issue or deny the issuance of a | 370 |
certificate within sixty days after the receipt of the | 371 |
application. A denial is subject to appeal under section 5717.02 | 372 |
of the Revised Code. If the operator files a timely appeal under | 373 |
section 5717.02 of the Revised Code, the operator shall be granted | 374 |
a qualifying certificate, provided that the operator is liable for | 375 |
any tax, interest, or penalty upon amounts claimed as qualifying | 376 |
distribution center receipts, other than those receipts exempt | 377 |
under division (C)(1) of section 5751.011 of the Revised Code, | 378 |
that would have otherwise not been owed by its suppliers if the | 379 |
qualifying certificate was valid. | 380 |
(ii)(I) If the distribution center is new and was not open | 397 |
for the entire qualifying period, the operator of the distribution | 398 |
center may request that the commissioner grant a qualifying | 399 |
certificate. If the certificate is granted and it is later | 400 |
determined that more than fifty per cent of the qualified property | 401 |
during that year was not shipped to a location such that it would | 402 |
be sitused outside of this state under the provisions of division | 403 |
(E) of section 5751.033 of the Revised Code or if it is later | 404 |
determined that the person that operates the distribution center | 405 |
had average monthly costs from its suppliers of less than forty | 406 |
million dollars during that year, then the operator of the | 407 |
distribution center shall be liable for any tax, interest, or | 408 |
penalty upon amounts claimed as qualifying distribution center | 409 |
receipts, other than those receipts exempt under division (C)(1) | 410 |
of section 5751.011 of the Revised Code, that would have not | 411 |
otherwise been owed by its suppliers during the qualifying year if | 412 |
the qualifying certificate was validpay a penalty for that year | 413 |
equal to five hundred thousand dollars. (For purposes of division | 414 |
(F)(2)(z)(ii) of this section, "supplier" excludes any person that | 415 |
is part of the consolidated elected taxpayer group, if applicable, | 416 |
of the operator of the qualified distribution center.) | 417 |
(II) The commissioner may grant a qualifying certificate to a | 418 |
distribution center that does not qualify as a qualified | 419 |
distribution center for an entire qualifying period if the | 420 |
operator of the distribution center demonstrates that the business | 421 |
operations of the distribution center have changed or will change | 422 |
such that the distribution center will qualify as a qualified | 423 |
distribution center within thirty-six months after the date the | 424 |
operator first applies for a certificate. If, at the end of that | 425 |
thirty-six-month period, the business operations of the | 426 |
distribution center have not changed such that the distribution | 427 |
center qualifies as a qualified distribution center, the operator | 428 |
of the distribution center shall pay a penalty equal to five | 429 |
hundred thousand dollars for each year that the distribution | 430 |
center received a certificate but did not qualify as a qualified | 431 |
distribution center. For each year the distribution center | 432 |
receives a certificate under division (F)(2)(z)(ii)(II) of this | 433 |
section, the distribution center shall pay all applicable fees | 434 |
required under division (F)(2)(z) of this section and shall submit | 435 |
an updated business plan showing the progress the distribution | 436 |
center made toward qualifying as a qualified distribution center | 437 |
during the preceding year.
| 438 |
(iii) When filing an application for a qualifying certificate | 442 |
under division (F)(2)(z)(i)(VI) of this section, the operator of a | 443 |
qualified distribution center also shall provide documentation, as | 444 |
the commissioner requires, for the commissioner to ascertain the | 445 |
Ohio delivery percentage. The commissioner, upon issuing the | 446 |
qualifying certificate, also shall certify the Ohio delivery | 447 |
percentage. The operator of the qualified distribution center may | 448 |
appeal the commissioner's certification of the Ohio delivery | 449 |
percentage in the same manner as an appeal is taken from the | 450 |
denial of a qualifying certificate under division (F)(2)(z)(i)(VI) | 451 |
of this section. | 452 |
Within thirty days after all appeals have been exhausted, the | 453 |
operator of the qualified distribution center shall notifyprovide | 454 |
the commissioner with a list of all affected suppliers of | 455 |
qualified property. The commissioner shall notify all such | 456 |
suppliers that suchthe suppliers are required to file, within | 457 |
sixty days after receiving the notice from the operator of the | 458 |
qualified distribution center, amended reports for the impacted | 459 |
affected calendar quarter or quarters or calendar year, whichever | 460 |
the case may be. Any additional tax liability or tax overpayment | 461 |
shall be subject to interest but shall not be subject to the | 462 |
imposition of any penalty so long as the amended returns are | 463 |
timely filed. The supplier of tangible personal property delivered | 464 |
to the qualified distribution center shall include in its report | 465 |
of taxable gross receipts the receipts from the total sales of | 466 |
property delivered to the qualified distribution center for the | 467 |
calendar quarter or calendar year, whichever the case may be, | 468 |
multiplied by the Ohio delivery percentage for the qualifying | 469 |
year. Nothing in division (F)(2)(z)(iii) of this section shall be | 470 |
construed as imposing liability on the operator of a qualified | 471 |
distribution center for the tax imposed by this chapter arising | 472 |
from any change to the Ohio delivery percentage. | 473 |
(iv)(I) In the case where the distribution center is new and | 474 |
not open for the entire qualifying period, the operator shall make | 475 |
a good faith estimate of an Ohio delivery percentage for use by | 476 |
suppliers in their reports of taxable gross receipts for the | 477 |
remainder of the qualifying period. The operator of the facility | 478 |
shall disclose to the suppliers that such Ohio delivery percentage | 479 |
is an estimate and is subject to recalculation. By the due date of | 480 |
the next application for a qualifying certificate, the operator | 481 |
shall determine the actual Ohio delivery percentage for the | 482 |
estimated qualifying period and proceed as provided in division | 483 |
(F)(2)(z)(iii) of this section with respect to the calculation and | 484 |
recalculation of the Ohio delivery percentage. The supplier is | 485 |
required to file, within sixty days after receiving notice from | 486 |
the operator of the qualified distribution center, amended reports | 487 |
for the impacted calendar quarter or quarters or calendar year, | 488 |
whichever the case may be. Any additional tax liability or tax | 489 |
overpayment shall be subject to interest but shall not be subject | 490 |
to the imposition of any penalty so long as the amended returns | 491 |
are timely filed. | 492 |
(II) The operator of a distribution center that receives a | 493 |
qualifying certificate under division (F)(2)(ii)(II) of this | 494 |
section shall make a good faith estimate of the Ohio delivery | 495 |
percentage that the operator estimates will apply to the | 496 |
distribution center at the end of the thirty-six-month period | 497 |
after the operator first applied for a qualifying certificate | 498 |
under that division. The result of the estimate shall be | 499 |
multiplied by a factor of one and seventy-five one-hundredths. The | 500 |
product of that calculation shall be the Ohio delivery percentage | 501 |
used by suppliers in their reports of taxable gross receipts for | 502 |
each qualifying year that the distribution center receives a | 503 |
qualifying certificate under division (F)(2)(ii)(II) of this | 504 |
section, except that, if the product is less than five per cent, | 505 |
the Ohio delivery percentage used shall be five per cent and that, | 506 |
if the product exceeds forty-nine per cent, the Ohio delivery | 507 |
percentage used shall be forty-nine per cent. | 508 |
(v) Qualifying certificates and Ohio delivery percentages | 509 |
issued by the commissioner shall be open to public inspection and | 510 |
shall be timely published by the commissioner. A supplier relying | 511 |
in good faith on a certificate issued under this division shall | 512 |
not be subject to tax on the qualifying distribution center | 513 |
receipts under division (F)(2)(z) of this section. A person | 514 |
receiving a qualifying certificate is responsibleliable for | 515 |
paying the tax, interest, and penalty upon amounts claimed as | 516 |
qualifying distribution center receipts that would not otherwise | 517 |
have been owed by the supplier if the qualifying certificate were | 518 |
available when it is later determined that the qualifying | 519 |
certificatea penalty equal to five hundred thousand dollars for | 520 |
each year the person received a certificate that should not have | 521 |
been issued because the statutory requirements were in fact not | 522 |
met. | 523 |
(vi) The annual fee for a qualifying certificate shall be one | 524 |
hundred thousand dollars for each qualified distribution center. | 525 |
If a qualifying certificate is not issued, the annual fee is | 526 |
subject to refund after the exhaustion of all appeals provided for | 527 |
in division (F)(2)(z)(i)(VI) of this section. The fee imposed | 528 |
under this division may be assessed in the same manner as the tax | 529 |
imposed under this chapter. The first one hundred thousand dollars | 530 |
of the annual application fees collected each calendar year shall | 531 |
be credited to the revenue enhancement fund. The remainder of the | 532 |
annual application fees collected shall be distributed in the same | 533 |
manner required under section 5751.20 of the Revised Code. | 534 |
(dd) Bad debts from receipts on the basis of which the tax | 546 |
imposed by this chapter was paid in a prior quarterly tax payment | 547 |
period. For the purpose of this division, "bad debts" means any | 548 |
debts that have become worthless or uncollectible between the | 549 |
preceding and current quarterly tax payment periods, have been | 550 |
uncollected for at least six months, and that may be claimed as a | 551 |
deduction under section 166 of the Internal Revenue Code and the | 552 |
regulations adopted under that section, or that could be claimed | 553 |
as such if the taxpayer kept its accounts on the accrual basis. | 554 |
"Bad debts" does not include repossessed property, uncollectible | 555 |
amounts on property that remains in the possession of the taxpayer | 556 |
until the full purchase price is paid, or expenses in attempting | 557 |
to collect any account receivable or for any portion of the debt | 558 |
recovered; | 559 |
(I) "Qualified uranium receipts" means receipts from the | 570 |
sale, exchange, lease, loan, production, processing, or other | 571 |
disposition of uranium within a uranium enrichment zone certified | 572 |
by the tax commissioner under division (F)(2)(gg)(ii) of this | 573 |
section. "Qualified uranium receipts" does not include any | 574 |
receipts with a situs in this state outside a uranium enrichment | 575 |
zone certified by the tax commissioner under division | 576 |
(F)(2)(gg)(ii) of this section. | 577 |
(ii) Any person that owns, leases, or operates real or | 583 |
tangible personal property constituting or located within a | 584 |
uranium enrichment zone may apply to the tax commissioner to have | 585 |
the uranium enrichment zone certified for the purpose of excluding | 586 |
qualified uranium receipts under division (F)(2)(gg) of this | 587 |
section. The application shall include such information that the | 588 |
tax commissioner prescribes. Within sixty days after receiving the | 589 |
application, the tax commissioner shall certify the zone for that | 590 |
purpose if the commissioner determines that the property qualifies | 591 |
as a uranium enrichment zone as defined in division (F)(2)(gg) of | 592 |
this section, or, if the tax commissioner determines that the | 593 |
property does not qualify, the commissioner shall deny the | 594 |
application or request additional information from the applicant. | 595 |
If the tax commissioner denies an application, the commissioner | 596 |
shall state the reasons for the denial. The applicant may appeal | 597 |
the denial of an application to the board of tax appeals pursuant | 598 |
to section 5717.02 of the Revised Code. If the applicant files a | 599 |
timely appeal, the tax commissioner shall conditionally certify | 600 |
the applicant's property. The conditional certification shall | 601 |
expire when all of the applicant's appeals are exhausted. Until | 602 |
final resolution of the appeal, the applicant shall retain the | 603 |
applicant's records in accordance with section 5751.12 of the | 604 |
Revised Code, notwithstanding any time limit on the preservation | 605 |
of records under that section. | 606 |
(hh) Amounts realized by licensed motor fuel dealers or | 607 |
licensed permissive motor fuel dealers from the exchange of | 608 |
petroleum products, including motor fuel, between such dealers, | 609 |
provided that delivery of the petroleum products occurs at a | 610 |
refinery, terminal, pipeline, or marine vessel and that the | 611 |
exchanging dealers agree neither dealer shall require monetary | 612 |
compensation from the other for the value of the exchanged | 613 |
petroleum products other than such compensation for differences in | 614 |
product location or grade. Division (F)(2)(hh) of this section | 615 |
does not apply to amounts realized as a result of differences in | 616 |
location or grade of exchanged petroleum products or from | 617 |
handling, lubricity, dye, or other additive injections fees, | 618 |
pipeline security fees, or similar fees. As used in this division, | 619 |
"motor fuel," "licensed motor fuel dealer," "licensed permissive | 620 |
motor fuel dealer," and "terminal" have the same meanings as in | 621 |
section 5735.01 of the Revised Code. | 622 |
(3) In the case of a taxpayer when acting as a real estate | 632 |
broker, "gross receipts" includes only the portion of any fee for | 633 |
the service of a real estate broker, or service of a real estate | 634 |
salesperson associated with that broker, that is retained by the | 635 |
broker and not paid to an associated real estate salesperson or | 636 |
another real estate broker. For the purposes of this division, | 637 |
"real estate broker" and "real estate salesperson" have the same | 638 |
meanings as in section 4735.01 of the Revised Code. | 639 |
(K) "Internal Revenue Code" means the Internal Revenue Code | 685 |
of 1986, 100 Stat. 2085, 26 U.S.C. 1, as amended. Any term used in | 686 |
this chapter that is not otherwise defined has the same meaning as | 687 |
when used in a comparable context in the laws of the United States | 688 |
relating to federal income taxes unless a different meaning is | 689 |
clearly required. Any reference in this chapter to the Internal | 690 |
Revenue Code includes other laws of the United States relating to | 691 |
federal income taxes. | 692 |
Section 4. Section 5751.01 of the Revised Code is presented | 733 |
in this act as a composite of the section as amended by both Am. | 734 |
Sub. H.B. 472 and Am. Sub. H.B. 510 of the 129th General Assembly. | 735 |
The General Assembly, applying the principle stated in division | 736 |
(B) of section 1.52 of the Revised Code that amendments are to be | 737 |
harmonized if reasonably capable of simultaneous operation, finds | 738 |
that the composite is the resulting version of the section in | 739 |
effect prior to the effective date of the section as presented in | 740 |
this act. | 741 |