Tax Rules: Final: 5703-3
5703-3-04 - Dates for listing
taxable personal property
(A) All taxpayers required by rule 5703-3-03 of the
Administrative Code to file a balance sheet and make a return
of taxable property used in business shall list such personal
property as of the close of business of the last day of
December, except those taxpayers filing an initial personal
property tax return upon first engaging in business in this
state pursuant to sections 5711.03 and 5711.04 of the Revised
Code or unless otherwise provided by this rule.
(B) Any taxpayer required to file an income tax return with
the United States internal revenue service on a fiscal year
basis shall employ the same fiscal year end for listing his
personal property used in business. For the purpose of
listing such personal property, such fiscal year end shall be
that for the fiscal year ending in the calendar year
preceding the calendar year in which the property tax return
is required to be filed. If a taxpayer has not been engaged
in business in Ohio for a full twelve months immediately
preceding such fiscal year end, he shall list all taxable
personal property as of the close of business of the last day
of December.
(C) A taxpayer may, by written application to the tax
commissioner setting forth facts showing good cause, request
permission to employ a fiscal year end for making a return of
taxable property other than that used for federal income tax
purposes. A taxpayer who is not required to file a return
with the internal revenue service may similarly make a
written application to the commissioner, requesting
permission to employ a fiscal year end for making return of
his taxable property other than the last day of December. Any
taxpayer making written application under the provisions of
this paragraph must have been engaged in business in Ohio a
full twelve months immediately preceding the fiscal year end
requested.
(D) A taxpayer shall employ the same listing day each year,
unless upon written application to the commissioner or by
order of the commissioner a different day of listing be
authorized or required.
(E) A taxpayer who has acquired or disposed of property
subject to taxation under section 5709.01 or 5709.02 of the
Revised Code, is required to employ, or may apply for, an
alternate listing day with respect to such property, when:
(1) The property so acquired or disposed of constitutes an
entire plant, a facility, or a division; and
(2) Such property was transferred by means of purchase or
sale, merger, or reorganization; and
(3) Such property would otherwise be excluded from taxation
for one year or would otherwise be taxed more than once in a
year.
If such property would otherwise be excluded from taxation,
the taxpayer acquiring the property shall list that property
as of the last day of the month of acquisition. If such
property would otherwise be taxed more than once in a year,
the taxpayer disposing of such property may apply in writing
to the commissioner on or before April thirtieth of that year
for designation of an alternate day which will eliminate the
listing of such property from the disposing taxpayer's
return.
The alternate lising day provided for by this paragraph is in
addition to the listing day for all other property and shall
only apply to such acquired or disposed property, and shall
be used for one year only.
This rule does not apply to financial institutions or to
dealers in intangibles.
Effective: 12-30-84
Promulgated under: 5703.14
Authorized by: 5703.05
Amplifies: 5709.01, 5709.02, 5711.03, 5711.04, 5711.101