Effective: October 19, 1959
Latest Legislation: House Bill 535 - 103rd General Assembly
A corporation which owns or controls at least fifty-one percent of the common stock of another corporation may, under uniform regulations prescribed by the tax commissioner, make a consolidated return for the purpose of sections 5711.01 to 5711.36, inclusive, of the Revised Code. In such case all the taxable property mentioned in section 5709.01 of the Revised Code, belonging to the corporation making the return and to each of its subsidiaries shall be listed and assessed in the name of the separate owners thereof; but the parent corporation making such return shall not be required to list any of its investments in the stocks, securities, and other obligations of its subsidiaries, and in computing the amount of taxable credits inter-company accounts shall be eliminated. The commissioner may adopt regulations to govern the use of consolidated returns authorized by this section, but a corporation which avails itself of the option permitted or authorized by this section shall thereafter continue to file consolidated returns until the parent corporation notifies the commissioner in writing, on or before the twentieth day of April of the year in which the return is due, that it does not intend to file a consolidated return for such year.
A husband and wife living together may, under uniform regulations prescribed by the commissioner, make a joint return for the purpose of sections 5711.01 to 5711.36, inclusive, of the Revised Code. In such case investments of either spouse in the obligations of the other shall not be required to be listed therein, and in computing the amount of taxable credits such obligations shall be eliminated.
Structure Ohio Revised Code
Chapter 5711 | Listing Personal Property
Section 5711.01 | Listing Personal Property Definitions.
Section 5711.02 | Annual Returns - Supplying of Blanks.
Section 5711.03 | Listing of Taxable Property.
Section 5711.04 | Time for Making Returns.
Section 5711.05 | Returns of Taxable Property - Fiduciary Returns.
Section 5711.06 | Listing of Transferred Investments.
Section 5711.07 | Proper Taxing District for Listing Property.
Section 5711.09 | Powers and Duties of Tax Commissioner - Contents of Return.
Section 5711.10 | Option to File Verified Federal Income Tax Return.
Section 5711.131 | County Supplemental Return.
Section 5711.14 | Consolidated Returns for Corporations - Joint Returns for Husband and Wife.
Section 5711.15 | Valuation of Merchandise Offered for Sale.
Section 5711.16 | Listing of Personal Property by Manufacturer - Average Value of Articles.
Section 5711.17 | Separate Listing of Property by Manufacturer.
Section 5711.18 | Valuation of Accounts and Personal Property - Procedure - Income Yield.
Section 5711.19 | Determination of Trust Income - Cash Distribution.
Section 5711.21 | Rules Governing Assessments.
Section 5711.22 | Listing and Rates of Personal Property Tax.
Section 5711.221 | Report of Investment Income.
Section 5711.23 | Reclassified Property Assessable.
Section 5711.24 | Power of Tax Commissioner to Assess Taxable Property - Assessment Certificate.
Section 5711.25 | Procedure in Dealing With Assessment Certificates - Final Certificates.
Section 5711.26 | Commissioner May Make Certain Final Assessments.
Section 5711.30 | Penalty Assessment for Declaring a Nominal Dividend or to Evade Taxes.
Section 5711.31 | Notice of Assessment - Petition for Reassessment - Final Determination.
Section 5711.32 | Correction of Records and Tax Lists.
Section 5711.33 | Tax Bills Issued for Deficiency Assessment.
Section 5711.34 | List of Investment Holders in Corporations to Be Filed With Tax Commissioner.
Section 5711.341 | List of Investors in Money Market Investment to Be Filed With Tax Commissioner.
Section 5711.35 | Resident Deputy County Treasurer.
Section 5711.36 | Filing and Preservation of Returns and Assessment Certificates.