Tax Rules: Final: 5703-3
5703-3-05 -
Consolidated returns by corporations and joint
returns by husband and wife
(A)(1) Any corporation desiring to file a consolidated
personal property tax return must file notice thereof with
the tax commissioner in writing on or before April thirtieth,
or within the filing time as extended, of the year in which
such return is filed. Thereafter, every such corporation must
continue to file consolidated returns until the parent
corporation notifies the commissioner in writing on or before
April twentieth of the year in which such return is filed
that it does not intend to file a consolidated return for
such year. Any corporation which elects to file a
consolidated return and subsequently discontinues the use of
such return must comply with the provisions of the first
sentence of this paragraph before it may again file a
consolidated return.
(2) A corporation which does not elect to file a consolidated
tax return as provided in the preceding paragraph, and which
files an independent non-consolidated return, cannot
thereafter amend such return or elect to file on a
consolidated basis for that year, regardless of any
assessment made or other action taken by the tax commissioner
with respect to that independent non-consolidated return.
(3)(a) A corporation having availed itself of the privilege
of filing a consolidated return, as provided in paragraph
(A)(1) of this rule, shall include therein all of its
subsidiary corporations in which it owns or controls at least
fifty-one per cent of the common stock.
(b) The taxable situs of intangible property of any such
subsidiary corporation or corporations shall be unaffected by
the fact that the return of such corporation or corporations
may be included in the return of the parent corporation.
(B) Joint personal property tax returns may be filed at the
option of a husband and wife provided they were living
together on tax listing day.
Effective: 11-11-82
Promulgated under: 5703.14
Amplifies: 5703.14, 5711.14
Prior effective dates: 8-27-59