Ohio Revised Code
Chapter 5711 | Listing Personal Property
Section 5711.15 | Valuation of Merchandise Offered for Sale.

Effective: August 15, 1957
Latest Legislation: House Bill 311 - 102nd General Assembly
A merchant in estimating the value of the personal property held for sale in the course of his business shall take as the criterion the average value of such property, as provided in this section of the Revised Code, which he has had in his possession or under his control during the year ending on the day such property is listed for taxation, or the part of such year during which he was engaged in business. Such average shall be ascertained by taking the amount in value on hand, as nearly as possible, in each month of such year in which he has been engaged in business, adding together such amounts, and dividing the aggregate amount by the number of months that he has been in business during such year.
As used in this section a "merchant" is a person who owns or has in possession or subject to his control personal property within this state with authority to sell it, which has been purchased either in or out of this state, with a view to being sold at an advanced price or profit, or which has been consigned to him from a place out of this state for the purpose of being sold at a place within this state.

Structure Ohio Revised Code

Ohio Revised Code

Title 57 | Taxation

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 5711.101 | Tax Commissioner May Require Financial Statement or Balance Sheet - Substitute Listing Date.

Section 5711.11 | Certain Returns Shall Be Made in Duplicate - County Auditor to Assess Property - Returns Are Confidential.

Section 5711.13 | Taxpayer Shall Make Combined Return - Assessment - Certification to Treasurer of State.

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 5711.27 | Penalty Assessment for Failure to Make Return or List or Disclose All Taxable Property - Personal Liability of Fiduciary.

Section 5711.28 | Unreasonable Accumulation of Profits by Corporation - Accumulation of Trust Income - Assessment by Commissioner.

Section 5711.29 | Unreasonable Accumulation of Profits by Corporation - Accumulation of Trust Income - Assessment by Commissioner.

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.